Cooper Companies (NASDAQ:COO) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Cooper Companies (NASDAQ:COO) in a research report report published on Wednesday,Benzinga reports.

A number of other analysts have also weighed in on COO. Wells Fargo & Company raised their target price on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Morgan Stanley raised their price objective on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Piper Sandler upped their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price target (up previously from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Finally, Robert W. Baird upped their price objective on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies Price Performance

Shares of Cooper Companies stock opened at $103.43 on Wednesday. The stock has a market capitalization of $20.60 billion, a price-to-earnings ratio of 57.62, a P/E/G ratio of 2.21 and a beta of 0.99. The firm’s 50-day moving average price is $105.59 and its two-hundred day moving average price is $98.45. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Cooper Companies has a 1-year low of $82.21 and a 1-year high of $112.38.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. During the same period in the prior year, the company earned $0.84 EPS. Cooper Companies’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts predict that Cooper Companies will post 3.65 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Albert G. White III sold 114,992 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total value of $12,710,065.76. Following the sale, the chief executive officer now directly owns 165,273 shares in the company, valued at $18,267,624.69. This trade represents a 41.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian G. Andrews sold 24,788 shares of Cooper Companies stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the transaction, the chief financial officer now directly owns 6,614 shares in the company, valued at $700,422.60. The trade was a 78.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 256,373 shares of company stock valued at $27,637,427 in the last 90 days. 2.00% of the stock is owned by company insiders.

Institutional Trading of Cooper Companies

Several hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Cooper Companies by 43.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 35,233 shares of the medical device company’s stock worth $3,076,000 after acquiring an additional 10,616 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in Cooper Companies during the 2nd quarter worth approximately $501,000. BDF Gestion bought a new position in Cooper Companies in the second quarter valued at approximately $2,919,000. Assenagon Asset Management S.A. lifted its stake in Cooper Companies by 30.9% in the second quarter. Assenagon Asset Management S.A. now owns 535,909 shares of the medical device company’s stock valued at $46,785,000 after buying an additional 126,371 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Cooper Companies by 23.0% in the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock valued at $435,856,000 after buying an additional 737,726 shares during the period. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Company Profile

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.