Cooper Companies (NASDAQ:COO) Hits New 12-Month Low Following Analyst Downgrade

The Cooper Companies, Inc. (NASDAQ:COO - Get Free Report) reached a new 52-week low during mid-day trading on Friday after Stifel Nicolaus lowered their price target on the stock from $115.00 to $105.00. Stifel Nicolaus currently has a buy rating on the stock. Cooper Companies traded as low as $82.61 and last traded at $85.12, with a volume of 517147 shares. The stock had previously closed at $90.98.

Several other brokerages have also commented on COO. Citigroup decreased their target price on shares of Cooper Companies from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday. Piper Sandler reissued an "overweight" rating and set a $115.00 price target (down previously from $120.00) on shares of Cooper Companies in a research note on Friday. Morgan Stanley lowered their price target on shares of Cooper Companies from $104.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Friday, December 6th. StockNews.com downgraded shares of Cooper Companies from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird decreased their price objective on Cooper Companies from $117.00 to $107.00 and set an "outperform" rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $111.89.

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Institutional Trading of Cooper Companies

Several large investors have recently modified their holdings of COO. Fulton Bank N.A. increased its position in shares of Cooper Companies by 3.0% in the 4th quarter. Fulton Bank N.A. now owns 3,718 shares of the medical device company's stock worth $342,000 after purchasing an additional 109 shares during the last quarter. Covestor Ltd grew its stake in Cooper Companies by 35.5% in the fourth quarter. Covestor Ltd now owns 458 shares of the medical device company's stock worth $42,000 after purchasing an additional 120 shares in the last quarter. Shell Asset Management Co. increased its holdings in Cooper Companies by 15.5% in the fourth quarter. Shell Asset Management Co. now owns 946 shares of the medical device company's stock valued at $87,000 after buying an additional 127 shares during the last quarter. Torray Investment Partners LLC lifted its position in shares of Cooper Companies by 0.8% in the 4th quarter. Torray Investment Partners LLC now owns 16,190 shares of the medical device company's stock worth $1,488,000 after buying an additional 132 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in Cooper Companies by 7.4% in the fourth quarter. Mather Group LLC. now owns 1,926 shares of the medical device company's stock valued at $177,000 after buying an additional 133 shares during the last quarter. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Cooper Companies Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The company has a market cap of $16.17 billion, a P/E ratio of 41.55, a PEG ratio of 2.25 and a beta of 1.02. The company has a 50 day moving average price of $91.93 and a 200-day moving average price of $99.25.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The firm had revenue of $964.70 million for the quarter, compared to analysts' expectations of $981.25 million. Equities analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal year.

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.