Citigroup Has Lowered Expectations for Cooper Companies (NASDAQ:COO) Stock Price

Cooper Companies (NASDAQ:COO - Get Free Report) had its price objective dropped by stock analysts at Citigroup from $116.00 to $115.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the medical device company's stock. Citigroup's target price points to a potential upside of 16.09% from the company's current price.

A number of other research analysts have also commented on the company. StockNews.com upgraded Cooper Companies from a "hold" rating to a "buy" rating in a report on Tuesday. Morgan Stanley cut their target price on shares of Cooper Companies from $104.00 to $102.00 and set an "equal weight" rating for the company in a research note on Friday. Piper Sandler raised their price target 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. Wells Fargo & Company boosted their price objective on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Robert W. Baird increased their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $117.00.

Cooper Companies Stock Down 4.0 %

Shares of NASDAQ:COO traded down $4.17 during trading on Friday, reaching $99.06. 2,588,770 shares of the company traded hands, compared to its average volume of 1,149,586. Cooper Companies has a 1-year low of $82.69 and a 1-year high of $112.38. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The firm has a market cap of $19.73 billion, a P/E ratio of 55.03, a price-to-earnings-growth ratio of 2.24 and a beta of 0.97. The firm has a fifty day simple moving average of $104.72 and a 200 day simple moving average of $98.77.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. Analysts anticipate that Cooper Companies will post 3.65 earnings per share for the current fiscal year.

Insider Transactions at Cooper Companies

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 transaction, the chief executive officer now directly owns 165,273 shares in the company, valued at $18,267,624.69. This represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the completion of the transaction, the chief accounting officer now owns 4,818 shares in the company, valued at $520,488.54. This represents a 24.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cooper Companies

Large investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Cooper Companies in the third quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake in shares of Cooper Companies during the second quarter worth $25,000. Covestor Ltd increased its position in shares of Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company's stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Crewe Advisors LLC increased its position in shares of Cooper Companies by 286.4% during the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company's stock worth $30,000 after acquiring an additional 252 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its position in shares of Cooper Companies by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company's stock worth $34,000 after acquiring an additional 169 shares in the last quarter. Institutional investors 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.

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