Cooper Companies (NASDAQ:COO) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Cooper Companies (NASDAQ:COO - Free Report) had its target price increased by Wells Fargo & Company from $115.00 to $118.00 in a report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical device company's stock.

Other research analysts have also recently issued reports about the company. Needham & Company LLC reiterated a "hold" rating on shares of Cooper Companies in a report on Friday. Robert W. Baird lifted their target price on Cooper Companies from $118.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. Morgan Stanley increased their price target on Cooper Companies from $95.00 to $104.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 10th. Piper Sandler raised 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. Finally, StockNews.com raised shares of Cooper Companies from a "hold" rating to a "buy" rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $117.00.

Cooper Companies Stock Down 4.4 %

Shares of COO traded down $4.53 during mid-day trading on Friday, hitting $98.70. The company's stock had a trading volume of 3,694,024 shares, compared to its average volume of 1,287,907. The company's 50-day moving average is $104.49 and its 200-day moving average is $98.79. The firm has a market capitalization of $19.66 billion, a price-to-earnings ratio of 50.62, a PEG ratio of 2.28 and a beta of 0.97. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Cooper Companies has a 52-week low of $82.69 and a 52-week high of $112.38.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the company earned $0.87 EPS. Cooper Companies's revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Cooper Companies will post 4.03 EPS for the current fiscal year.

Insider Buying and Selling at Cooper Companies

In other news, CAO Agostino Ricupati sold 1,601 shares of the company's stock in a transaction dated 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 approximately $520,488.54. This represents a 24.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the chief executive officer now owns 165,273 shares in the company, 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. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cooper Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Cooper Companies by 43.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 35,233 shares of the medical device company's stock worth $3,076,000 after purchasing an additional 10,616 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in Cooper Companies during the 2nd quarter worth approximately $501,000. Assenagon Asset Management S.A. increased its position in Cooper Companies by 30.9% during the second quarter. Assenagon Asset Management S.A. now owns 535,909 shares of the medical device company's stock worth $46,785,000 after buying an additional 126,371 shares during the period. Victory Capital Management Inc. lifted its stake in Cooper Companies by 23.0% in 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 buying an additional 737,726 shares during the last quarter. Finally, OLD National Bancorp IN acquired a new stake in shares of Cooper Companies in the second quarter valued at approximately $531,000. 24.39% of the stock is owned by institutional investors and hedge funds.

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.