Cooper Companies (NASDAQ:COO) Sees Unusually-High Trading Volume - Should You Buy?

The Cooper Companies, Inc. (NASDAQ:COO - Get Free Report) saw strong trading volume on Tuesday . 1,230,359 shares changed hands during trading, an increase of 11% from the previous session's volume of 1,104,666 shares.The stock last traded at $106.04 and had previously closed at $106.72.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COO. Robert W. Baird upped their target price on Cooper Companies from $118.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Jefferies Financial Group raised shares of Cooper Companies from a "hold" rating to a "buy" rating and upped their price objective for the company from $107.00 to $115.00 in a report on Tuesday, July 16th. Wells Fargo & Company lifted their target price on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Thursday, August 29th. Stifel Nicolaus reiterated a "buy" rating and issued a $115.00 target price (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Finally, Morgan Stanley raised their price target on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $115.00.

Cooper Companies Stock Down 0.8 %

The business has a 50 day simple moving average of $104.60 and a 200 day simple moving average of $96.47. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of 62.25, a PEG ratio of 2.56 and a beta of 0.98. 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 (NASDAQ:COO - Get Free Report) last posted its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.05. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. Cooper Companies's revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. As a group, equities analysts predict that The Cooper Companies, Inc. will post 3.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Brian G. Andrews sold 24,788 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the sale, the chief financial officer now owns 6,614 shares of the company's stock, valued at approximately $700,422.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Agostino Ricupati sold 1,601 shares of Cooper Companies stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total value of $172,956.03. Following the completion of the transaction, the chief accounting officer now owns 4,818 shares in the company, valued at $520,488.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the completion of the sale, the chief financial officer now directly owns 6,614 shares in the company, valued at approximately $700,422.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 256,373 shares of company stock valued at $27,637,427 in the last ninety days. Company insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Cooper Companies by 303.0% during the 1st quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company's stock worth $2,343,723,000 after acquiring an additional 17,367,502 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Cooper Companies by 3.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,820,590 shares of the medical device company's stock worth $682,738,000 after buying an additional 231,155 shares during the last quarter. Capital World Investors increased its position in Cooper Companies by 301.7% during the first quarter. Capital World Investors now owns 5,654,023 shares of the medical device company's stock worth $573,657,000 after buying an additional 4,246,519 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Cooper Companies by 279.8% in the first quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company's stock valued at $348,723,000 after acquiring an additional 2,532,186 shares during the period. Finally, Impax Asset Management Group plc grew its position in shares of Cooper Companies by 31.0% during the second quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company's stock worth $205,511,000 after acquiring an additional 558,886 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company's stock.

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.