Cooper Companies (NASDAQ:COO) Sets New 12-Month Low – What’s Next?

Shares of The Cooper Companies, Inc. (NASDAQ:COO) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $72.17 and last traded at $73.41, with a volume of 1423 shares traded. The stock had previously closed at $73.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BNP Paribas upgraded Cooper Companies to a “hold” rating in a report on Thursday, March 13th. Robert W. Baird decreased their price objective on Cooper Companies from $117.00 to $107.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. StockNews.com cut shares of Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their price target on shares of Cooper Companies from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.25.

Cooper Companies Stock Up 0.1 %

The firm’s 50-day moving average price is $87.76 and its 200 day moving average price is $96.14. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 2.25 and a beta of 1.01.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings data on Thursday, March 6th. The medical device company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The business had revenue of $964.70 million during the quarter, compared to the consensus estimate of $981.25 million. On average, sell-side analysts forecast that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal year.

Institutional Trading of Cooper Companies

Several large investors have recently bought and sold shares of COO. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cooper Companies by 517.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,529,477 shares of the medical device company’s stock worth $324,466,000 after acquiring an additional 2,957,421 shares during the last quarter. Norges Bank bought a new position in Cooper Companies in the 4th quarter valued at approximately $217,906,000. FMR LLC boosted its position in Cooper Companies by 97.6% in the fourth quarter. FMR LLC now owns 2,218,112 shares of the medical device company’s stock valued at $203,911,000 after buying an additional 1,095,805 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Cooper Companies during the fourth quarter worth $64,826,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Cooper Companies by 14.6% during the fourth quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company’s stock worth $415,985,000 after buying an additional 574,899 shares in the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

About Cooper Companies

The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.