Cooper Companies (NASDAQ:COO) Stock Price Down 4.7% - Here's What Happened

The Cooper Companies, Inc. (NASDAQ:COO - Get Free Report)'s stock price fell 4.7% on Friday . The stock traded as low as $89.04 and last traded at $89.26. 547,169 shares were traded during trading, a decline of 55% from the average session volume of 1,227,139 shares. The stock had previously closed at $93.68.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com lowered Cooper Companies from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Citigroup lowered their price objective on shares of Cooper Companies from $116.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, December 6th. Morgan Stanley cut their target price 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. Wells Fargo & Company upped their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $117.00.

Cooper Companies Stock Performance

The stock has a fifty day moving average price of $93.48 and a 200 day moving average price of $99.74. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 44.76, a price-to-earnings-growth ratio of 2.41 and a beta of 1.00.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 earnings per share. As a group, analysts predict that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Hedge Funds Weigh In On Cooper Companies

A number of institutional investors have recently made changes to their positions in COO. Price T Rowe Associates Inc. MD raised its stake in Cooper Companies by 517.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,529,477 shares of the medical device company's stock valued at $324,466,000 after purchasing an additional 2,957,421 shares during the last quarter. Norges Bank bought a new stake in shares of Cooper Companies in the fourth quarter valued at about $217,906,000. FMR LLC grew its position in Cooper Companies by 97.6% during the fourth quarter. FMR LLC now owns 2,218,112 shares of the medical device company's stock worth $203,911,000 after buying an additional 1,095,805 shares in the last quarter. Victory Capital Management Inc. increased its stake in Cooper Companies by 23.0% during the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company's stock valued at $435,856,000 after acquiring an additional 737,726 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Cooper Companies in the 4th quarter valued at approximately $64,826,000. 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.