Cooper Companies (NASDAQ:COO) Cut to Hold at StockNews.com

Cooper Companies (NASDAQ:COO - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

Several other research analysts have also recently issued reports on COO. Citigroup cut their price target on shares of Cooper Companies from $116.00 to $115.00 and set a "buy" rating for the company in a report on Friday, December 6th. Piper Sandler increased their price target on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, August 29th. Robert W. Baird increased their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. Needham & Company LLC reissued a "hold" rating on shares of Cooper Companies in a report on Friday, December 6th. Finally, Morgan Stanley dropped 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 report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $117.00.

Cooper Companies Stock Performance

NASDAQ COO traded up $0.20 during trading hours on Wednesday, hitting $99.28. The company had a trading volume of 1,186,705 shares, compared to its average volume of 1,158,810. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91. Cooper Companies has a 1-year low of $84.26 and a 1-year high of $112.38. The company has a market cap of $19.77 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97. The business has a 50 day moving average of $104.09 and a 200-day moving average of $98.88.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced its earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the company earned $0.87 earnings per share. The business's revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Cooper Companies will post 3.98 EPS for the current year.

Insider Activity

In related news, CEO Albert G. White III sold 114,992 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the sale, the chief executive officer now owns 165,273 shares in the company, valued at approximately $18,267,624.69. This trade represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.00% of the company's stock.

Institutional Trading of Cooper Companies

A number of hedge funds have recently bought and sold shares of the company. State Street Corp boosted its position in Cooper Companies by 1.2% during the third quarter. State Street Corp now owns 8,590,689 shares of the medical device company's stock worth $947,897,000 after acquiring an additional 104,521 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Cooper Companies by 3.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,820,590 shares of the medical device company's stock worth $682,738,000 after purchasing an additional 231,155 shares during the period. Geode Capital Management LLC raised its stake in Cooper Companies by 1.0% during the third quarter. Geode Capital Management LLC now owns 4,796,556 shares of the medical device company's stock worth $527,476,000 after purchasing an additional 48,559 shares during the period. Victory Capital Management Inc. raised its stake 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 purchasing an additional 737,726 shares during the period. Finally, Impax Asset Management Group plc raised its stake 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 purchasing an additional 558,886 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.