Cooper Companies (NASDAQ:COO) Shares Down 2.8%

The Cooper Companies, Inc. (NASDAQ:COO) traded down 2.8% on Wednesday . The stock traded as low as $92.88 and last traded at $93.23. 290,891 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,097,422 shares. The stock had previously closed at $95.89.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group upgraded Cooper Companies from a “hold” rating to a “buy” rating and lifted their price target for the company from $107.00 to $115.00 in a research report on Tuesday, July 16th. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price target on shares of Cooper Companies in a research report on Wednesday, July 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research report on Friday, May 31st. Finally, Robert W. Baird lifted their price target on Cooper Companies from $116.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.78.

Cooper Companies Price Performance

The business has a fifty day moving average price of $90.82 and a 200-day moving average price of $94.01. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $18.61 billion, a PE ratio of 56.41, a PEG ratio of 2.34 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Thursday, May 30th. The medical device company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The firm had revenue of $942.60 million during the quarter, compared to analysts’ expectations of $948.07 million. During the same period in the prior year, the business earned $0.77 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts expect that The Cooper Companies, Inc. will post 3.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Cooper Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lindbrook Capital LLC lifted its stake in shares of Cooper Companies by 182.5% in the 4th quarter. Lindbrook Capital LLC now owns 113 shares of the medical device company’s stock valued at $43,000 after acquiring an additional 73 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Cooper Companies by 248.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the medical device company’s stock valued at $25,000 after acquiring an additional 174 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Cooper Companies by 412.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 251 shares of the medical device company’s stock valued at $95,000 after acquiring an additional 202 shares during the last quarter. Covestor Ltd lifted its stake in shares of Cooper Companies by 305.9% in the 1st quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock valued at $28,000 after acquiring an additional 208 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Cooper Companies in the 2nd quarter valued at about $25,000. 24.39% of the stock is currently 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.