Cooper Companies (NASDAQ:COO) Price Target Raised to $120.00 at Piper Sandler

Cooper Companies (NASDAQ:COO) had its target price boosted by Piper Sandler from $115.00 to $120.00 in a report published on Thursday morning, MarketBeat.com reports. They currently have an overweight rating on the medical device company’s stock.

COO has been the subject of several other reports. Jefferies Financial Group raised shares of 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 note on Tuesday, July 16th. Robert W. Baird boosted their price objective on Cooper Companies from $116.00 to $118.00 and gave the stock an outperform rating in a report on Friday, May 31st. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Cooper Companies in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $113.61.

Cooper Companies Price Performance

Cooper Companies stock opened at $105.73 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.14 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 62.10, a PEG ratio of 2.56 and a beta of 0.98. The stock’s 50 day moving average is $91.53 and its 200-day moving average is $94.22. Cooper Companies has a 12 month low of $75.93 and a 12 month high of $106.95.

Cooper Companies (NASDAQ:COO) last released its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.05. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. Cooper Companies’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. Equities research analysts expect that Cooper Companies will post 3.66 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Cooper Companies by 303.0% during the 1st 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 during the last quarter. Capital World Investors raised its position in Cooper Companies by 301.7% in the 1st quarter. Capital World Investors now owns 5,654,023 shares of the medical device company’s stock worth $573,657,000 after purchasing an additional 4,246,519 shares during the period. Janus Henderson Group PLC grew its position in 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 acquiring an additional 2,532,186 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Cooper Companies by 305.2% during the first quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company’s stock valued at $203,013,000 after purchasing an additional 1,507,049 shares during the period. Finally, Swedbank AB bought a new position in shares of Cooper Companies in the first quarter worth about $139,246,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

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.