Brokerages Expect Cooper Companies Inc (COO) Will Announce Quarterly Sales of $625.39 Million

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Analysts expect that Cooper Companies Inc (NYSE:COO) will post sales of $625.39 million for the current quarter, Zacks reports. Seven analysts have made estimates for Cooper Companies’ earnings, with the highest sales estimate coming in at $633.97 million and the lowest estimate coming in at $621.30 million. Cooper Companies posted sales of $590.00 million during the same quarter last year, which suggests a positive year over year growth rate of 6%. The firm is scheduled to issue its next quarterly earnings report on Thursday, March 14th.

On average, analysts expect that Cooper Companies will report full-year sales of $2.66 billion for the current financial year, with estimates ranging from $2.64 billion to $2.68 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.83 billion, with estimates ranging from $2.77 billion to $2.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Cooper Companies.

Cooper Companies (NYSE:COO) last released its quarterly earnings results on Thursday, December 6th. The medical device company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $2.96 by ($0.09). The company had revenue of $651.50 million during the quarter, compared to the consensus estimate of $645.25 million. Cooper Companies had a net margin of 5.52% and a return on equity of 17.86%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.65 EPS.

A number of brokerages have recently commented on COO. Zacks Investment Research upgraded shares of Cooper Companies from a “sell” rating to a “hold” rating in a report on Monday, October 1st. Raymond James boosted their target price on shares of Cooper Companies from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, September 21st. BMO Capital Markets boosted their target price on shares of Cooper Companies from $294.00 to $306.00 and gave the company an “outperform” rating in a report on Friday. Oppenheimer set a $282.00 target price on shares of Cooper Companies and gave the company a “hold” rating in a report on Friday. Finally, Wells Fargo & Co boosted their target price on shares of Cooper Companies from $295.00 to $305.00 and gave the company an “outperform” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $284.50.

In other Cooper Companies news, Director Allan E. Rubenstein sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $265.37, for a total value of $398,055.00. Following the completion of the transaction, the director now owns 3,068 shares of the company’s stock, valued at approximately $814,155.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Randal Golden sold 1,731 shares of the business’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $275.86, for a total value of $477,513.66. Following the completion of the transaction, the vice president now directly owns 1,154 shares of the company’s stock, valued at approximately $318,342.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,691 shares of company stock worth $5,527,869. 1.60% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. Marshall Wace North America L.P. raised its position in Cooper Companies by 875.3% in the 3rd quarter. Marshall Wace North America L.P. now owns 144,900 shares of the medical device company’s stock worth $40,159,000 after buying an additional 130,043 shares during the last quarter. Vanguard Group Inc. raised its position in Cooper Companies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,041,468 shares of the medical device company’s stock worth $1,397,243,000 after buying an additional 31,280 shares during the last quarter. Morgan Stanley raised its position in Cooper Companies by 734.7% in the 3rd quarter. Morgan Stanley now owns 177,658 shares of the medical device company’s stock worth $49,238,000 after buying an additional 156,373 shares during the last quarter. Legal & General Group Plc increased its position in shares of Cooper Companies by 9.7% during the 3rd quarter. Legal & General Group Plc now owns 255,020 shares of the medical device company’s stock valued at $70,679,000 after purchasing an additional 22,461 shares during the last quarter. Finally, Sawgrass Asset Management LLC increased its position in shares of Cooper Companies by 29.5% during the 3rd quarter. Sawgrass Asset Management LLC now owns 140,077 shares of the medical device company’s stock valued at $38,822,000 after purchasing an additional 31,880 shares during the last quarter.

Shares of COO stock traded down $34.02 during mid-day trading on Monday, reaching $243.01. 1,253,678 shares of the company’s stock traded hands, compared to its average volume of 333,174. Cooper Companies has a 12 month low of $216.47 and a 12 month high of $283.18. The stock has a market cap of $13.61 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 2.13 and a beta of 0.77. The company has a current ratio of 2.58, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70.

Cooper Companies Company Profile

The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.

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