The Cooper Companies, Inc. (NASDAQ:COO) Short Interest Update

The Cooper Companies, Inc. (NASDAQ:COO - Get Free Report) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,240,000 shares, an increase of 27.3% from the October 15th total of 1,760,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the days-to-cover ratio is currently 2.0 days.

Cooper Companies Stock Down 0.2 %

Shares of NASDAQ:COO traded down $0.23 during trading on Friday, reaching $99.63. 1,415,083 shares of the stock were exchanged, compared to its average volume of 1,126,768. The stock has a fifty day moving average of $106.83 and a two-hundred day moving average of $98.00. Cooper Companies has a 1-year low of $82.21 and a 1-year high of $112.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The firm has a market cap of $19.84 billion, a price-to-earnings ratio of 55.50, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 9.45% and a return on equity of 9.08%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. Research analysts anticipate that Cooper Companies will post 3.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 10th. Piper Sandler lifted their price objective on Cooper Companies from $115.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 29th. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a research report on Thursday, August 29th. StockNews.com upgraded Cooper Companies from a "hold" rating to a "buy" rating in a report on Thursday. Finally, Robert W. Baird boosted their price target on Cooper Companies from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $117.00.

Insider Activity at Cooper Companies

In related news, CAO Agostino Ricupati sold 1,601 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction of $172,956.03. Following the completion of the transaction, the chief accounting officer now directly owns 4,818 shares of the company's stock, valued at $520,488.54. This trade represents a 24.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Albert G. White III sold 114,992 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 165,273 shares of the company's stock, valued at approximately $18,267,624.69. The trade was a 41.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 256,373 shares of company stock worth $27,637,427 in the last quarter. 2.00% of the stock is owned by insiders.

Institutional Trading of Cooper Companies

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Cooper Companies by 1.0% during the third quarter. Geode Capital Management LLC now owns 4,796,556 shares of the medical device company's stock worth $527,476,000 after buying an additional 48,559 shares in the last quarter. Barclays PLC boosted its holdings in Cooper Companies by 0.7% during the 3rd quarter. Barclays PLC now owns 462,947 shares of the medical device company's stock worth $51,082,000 after acquiring an additional 3,070 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Cooper Companies by 8.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 58,703 shares of the medical device company's stock worth $6,477,000 after acquiring an additional 4,408 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Cooper Companies by 1.6% in the third quarter. MML Investors Services LLC now owns 17,787 shares of the medical device company's stock valued at $1,963,000 after purchasing an additional 280 shares during the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Cooper Companies in the third quarter valued at about $501,000. 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.