Morgan Stanley Lowers Cooper Companies (NASDAQ:COO) Price Target to $102.00

Cooper Companies (NASDAQ:COO - Free Report) had its price objective trimmed by Morgan Stanley from $104.00 to $102.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the medical device company's stock.

Other analysts have also recently issued reports about the company. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a research report on Friday. Stifel Nicolaus restated a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Piper Sandler boosted their target price on 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 upped their target price on Cooper Companies from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Finally, StockNews.com upgraded Cooper Companies from a "hold" rating to a "buy" rating in a report on Tuesday. Three research 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 stock has a consensus rating of "Moderate Buy" and an average target price of $117.00.

Cooper Companies Stock Performance

COO traded down $4.53 during trading hours on Friday, hitting $98.70. 3,694,024 shares of the stock were exchanged, compared to its average volume of 1,287,907. The stock has a market cap of $19.66 billion, a price-to-earnings ratio of 50.62, a price-to-earnings-growth ratio of 2.28 and a beta of 0.97. The stock has a 50-day simple moving average of $104.49 and a 200-day simple moving average of $98.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. Cooper Companies has a 12 month low of $82.69 and a 12 month high of $112.38.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. Analysts anticipate that Cooper Companies will post 4.03 earnings per share for the current year.

Insider Buying and Selling at Cooper Companies

In other news, CEO Albert G. White III sold 114,992 shares of the firm's stock in a transaction 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 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 SEC, which is accessible through this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of the company's 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 transaction, the chief accounting officer now owns 4,818 shares of the company's stock, valued at approximately $520,488.54. The trade was a 24.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Cooper Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in COO. Innealta Capital LLC acquired a new position in Cooper Companies during the second quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in Cooper Companies during the third quarter worth about $25,000. Crewe Advisors LLC boosted its holdings in shares of Cooper Companies by 286.4% in the 2nd 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. Tortoise Investment Management LLC grew its position in Cooper Companies by 75.4% during the 2nd 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 during the last quarter. Finally, Covestor Ltd increased its holdings in Cooper Companies by 144.9% during the 3rd quarter. Covestor Ltd now owns 338 shares of the medical device company's stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors.

About Cooper Companies

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.