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

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

COO has been the subject of a number of other reports. Needham & Company LLC reiterated a "hold" rating on shares of Cooper Companies in a report on Thursday, August 29th. Stifel Nicolaus reaffirmed a "buy" rating and set a $115.00 price target (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Morgan Stanley lifted their price objective on Cooper Companies from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 10th. Wells Fargo & Company upped their target price on Cooper Companies from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Thursday, August 29th. Finally, Piper Sandler upped their price objective 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. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $117.00.

Cooper Companies Price Performance

Shares of COO stock traded up $0.03 on Wednesday, reaching $99.08. The company's stock had a trading volume of 898,934 shares, compared to its average volume of 1,123,666. The company has a market capitalization of $19.73 billion, a P/E ratio of 55.04, a PEG ratio of 2.15 and a beta of 0.99. 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 stock's 50 day simple moving average is $106.29 and its 200-day simple moving average is $98.19. Cooper Companies has a 12-month low of $82.21 and a 12-month high of $112.38.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.05. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company's revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts predict that Cooper Companies will post 3.65 earnings per share for the current fiscal year.

Insider Activity

In other Cooper Companies news, CFO Brian G. Andrews sold 24,788 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now owns 6,614 shares in the company, valued at approximately $700,422.60. The trade was a 78.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daniel G. Mcbride sold 114,992 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total value of $12,129,356.16. Following the completion of the sale, the chief operating officer now owns 44,696 shares in the company, valued at approximately $4,714,534.08. This represents a 72.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 256,373 shares of company stock worth $27,637,427. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in COO. Innealta Capital LLC acquired a new position in shares of Cooper Companies in the second quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Cooper Companies during the 3rd quarter valued at about $25,000. Covestor Ltd grew its stake in shares of Cooper Companies by 305.9% in the 1st quarter. Covestor Ltd now owns 276 shares of the medical device company's stock valued at $28,000 after buying an additional 208 shares during the period. Crewe Advisors LLC increased its stake in 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 during the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in Cooper Companies by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company's stock valued at $34,000 after buying an additional 169 shares during the period. Hedge funds and other 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.