Cooper Companies (NASDAQ:COO) Downgraded to “Hold” Rating by StockNews.com

Cooper Companies (NASDAQ:COO) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Other analysts also recently issued research reports about the company. Stifel Nicolaus restated a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Wells Fargo & Company upped their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Citigroup cut their target price on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research report on Friday, December 6th. Finally, Piper Sandler increased their price objective on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Cooper Companies Stock Performance

Shares of COO opened at $96.72 on Wednesday. Cooper Companies has a 12-month low of $84.76 and a 12-month high of $112.38. The stock has a market capitalization of $19.26 billion, a P/E ratio of 49.60, a P/E/G ratio of 2.17 and a beta of 0.97. The firm’s 50 day moving average is $103.71 and its 200-day moving average is $98.87. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. Equities research analysts anticipate that Cooper Companies will post 3.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Albert G. White III sold 114,992 shares of Cooper Companies 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 transaction, the chief executive officer now owns 165,273 shares of the company’s stock, valued at $18,267,624.69. This trade represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in Cooper Companies by 1.2% in the 3rd quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock worth $947,897,000 after buying an additional 104,521 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Cooper Companies by 3.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,820,590 shares of the medical device company’s stock valued at $682,738,000 after purchasing an additional 231,155 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cooper Companies by 1.0% in the third quarter. Geode Capital Management LLC now owns 4,796,556 shares of the medical device company’s stock valued at $527,476,000 after buying an additional 48,559 shares during the period. Victory Capital Management Inc. grew its position in Cooper Companies by 23.0% during the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after buying an additional 737,726 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in Cooper Companies by 31.0% during the second quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock worth $205,511,000 after buying an additional 558,886 shares in the last quarter. 24.39% of the stock is currently 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.