Piper Sandler Reiterates "Overweight" Rating for Cooper Companies (NASDAQ:COO)

Cooper Companies (NASDAQ:COO - Get Free Report)'s stock had its "overweight" rating restated by research analysts at Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They currently have a $115.00 price objective on the medical device company's stock, down from their prior price objective of $120.00. Piper Sandler's price target suggests a potential upside of 41.92% from the company's current price.

Several other equities analysts also recently issued reports on COO. Wells Fargo & Company upped their price objective on shares of Cooper Companies from $115.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on Cooper Companies from $120.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday. Citigroup lowered 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. Finally, Morgan Stanley reduced their price target on shares of Cooper Companies from $104.00 to $102.00 and set an "equal weight" rating for the company in a research report on Friday, December 6th. Three equities research 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, Cooper Companies presently has an average rating of "Moderate Buy" and an average target price of $111.89.

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Cooper Companies Stock Up 1.4 %

Shares of NASDAQ COO traded up $1.14 during midday trading on Friday, hitting $81.03. 3,370,815 shares of the company's stock were exchanged, compared to its average volume of 1,725,305. The firm's fifty day simple moving average is $91.93 and its 200-day simple moving average is $99.25. The company has a market cap of $16.17 billion, a PE ratio of 41.55, a P/E/G ratio of 2.25 and a beta of 1.02. Cooper Companies has a twelve month low of $78.43 and a twelve month high of $112.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12.

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

Hedge Funds Weigh In On Cooper Companies

A number of large investors have recently modified their holdings of the business. State Street Corp boosted its stake in shares of Cooper Companies by 1.2% in the third quarter. State Street Corp now owns 8,590,689 shares of the medical device company's stock valued at $947,897,000 after buying an additional 104,521 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Cooper Companies by 2.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,678,965 shares of the medical device company's stock valued at $705,928,000 after acquiring an additional 155,233 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Cooper Companies by 1.5% during the 4th quarter. JPMorgan Chase & Co. now owns 5,004,523 shares of the medical device company's stock worth $460,066,000 after purchasing an additional 74,501 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cooper Companies by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,906,463 shares of the medical device company's stock valued at $449,907,000 after purchasing an additional 109,907 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Cooper Companies by 14.6% in the fourth quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company's stock valued at $415,985,000 after purchasing an additional 574,899 shares during the period. 24.39% of the stock is owned by hedge funds and other institutional investors.

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.