Cooper Companies (NASDAQ:COO) Earns "Hold" Rating from Needham & Company LLC

Cooper Companies (NASDAQ:COO - Get Free Report)'s stock had its "hold" rating reaffirmed by Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

Several other research firms have also issued reports on COO. Stifel Nicolaus reiterated 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. Wells Fargo & Company increased their price target on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Thursday, August 29th. StockNews.com lowered shares of Cooper Companies from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. 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 research report on Thursday, August 29th. Finally, Piper Sandler increased their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $117.00.

Cooper Companies Stock Performance

Shares of NASDAQ:COO opened at $102.64 on Wednesday. The company's 50 day moving average price is $105.74 and its two-hundred day moving average price is $98.39. Cooper Companies has a 12-month low of $82.21 and a 12-month high of $112.38. The firm has a market cap of $20.44 billion, a PE ratio of 57.18, a PEG ratio of 2.21 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.

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

Insider Activity

In other news, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction 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 sale, the chief accounting officer now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Albert G. White III sold 114,992 shares of the stock in a transaction on Thursday, September 19th. The stock was 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 of the company's stock, valued at approximately $18,267,624.69. This trade represents a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 256,373 shares of company stock valued at $27,637,427. Insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Cooper Companies

Large investors have recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Cooper Companies in the third quarter worth $25,000. Innealta Capital LLC acquired a new stake in Cooper Companies in the second quarter worth $25,000. Covestor Ltd grew its holdings in Cooper Companies by 144.9% in the third quarter. Covestor Ltd now owns 338 shares of the medical device company's stock worth $37,000 after purchasing an additional 200 shares during the period. Crewe Advisors LLC grew its holdings in Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company's stock worth $30,000 after purchasing an additional 252 shares during the period. Finally, Tortoise Investment Management LLC grew its holdings in Cooper Companies by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company's stock worth $34,000 after purchasing an additional 169 shares during the period. 24.39% of the stock is currently owned by institutional investors and hedge funds.

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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