Wells Fargo & Company Increases Cooper Companies (NASDAQ:COO) Price Target to $115.00

Cooper Companies (NASDAQ:COO) had its price objective upped by analysts at Wells Fargo & Company from $110.00 to $115.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical device company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 8.77% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Piper Sandler raised their price target on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research report on Friday, August 23rd. Jefferies Financial Group upgraded 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. Finally, Robert W. Baird increased their price target on shares of Cooper Companies from $116.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cooper Companies presently has a consensus rating of “Moderate Buy” and an average target price of $113.61.

Cooper Companies Price Performance

Shares of NASDAQ:COO opened at $105.73 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.95. Cooper Companies has a 52 week low of $75.93 and a 52 week high of $106.95. The company has a 50 day moving average price of $91.53 and a two-hundred day moving average price of $94.19. The company has a market capitalization of $21.05 billion, a PE ratio of 62.19, a PEG ratio of 2.34 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $997.30 million. During the same period in the prior year, the business earned $0.84 EPS. Cooper Companies’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts forecast that Cooper Companies will post 3.57 earnings per share for the current year.

Institutional Investors Weigh In On Cooper Companies

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Cooper Companies by 303.0% during the first quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock valued at $2,343,723,000 after purchasing an additional 17,367,502 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Cooper Companies by 3.0% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,820,590 shares of the medical device company’s stock valued at $682,738,000 after buying an additional 231,155 shares during the period. Capital World Investors raised its stake 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 last quarter. Janus Henderson Group PLC lifted its stake in shares of Cooper Companies by 279.8% in the 1st quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company’s stock valued at $348,723,000 after purchasing an additional 2,532,186 shares during the period. Finally, Impax Asset Management Group plc lifted its stake in Cooper Companies by 31.0% in the second quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock valued at $205,511,000 after buying an additional 558,886 shares during the period. 24.39% of the stock is currently owned by institutional investors and hedge funds.

About Cooper Companies

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.