Cooper Companies (NASDAQ:COO) Price Target Lowered to $110.00 at Citigroup

Cooper Companies (NASDAQ:COO) had its price target dropped by equities researchers at Citigroup from $115.00 to $110.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Citigroup’s price objective points to a potential upside of 20.91% from the stock’s previous close.

A number of other analysts also recently issued reports on COO. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a report on Friday. StockNews.com lowered Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company raised their price objective on Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Morgan Stanley reduced their target price on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.67.

Cooper Companies Stock Performance

Shares of Cooper Companies stock opened at $90.98 on Friday. The company has a market capitalization of $18.16 billion, a PE ratio of 46.66, a P/E/G ratio of 2.25 and a beta of 1.02. Cooper Companies has a one year low of $84.76 and a one year high of $112.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91. The company has a 50-day simple moving average of $92.56 and a two-hundred day simple moving average of $99.51.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. Research analysts expect that Cooper Companies will post 3.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Cooper Companies

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp raised its position in Cooper Companies by 1.2% in the third quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock valued at $947,897,000 after purchasing an additional 104,521 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Cooper Companies by 2.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,678,965 shares of the medical device company’s stock worth $705,928,000 after purchasing an additional 155,233 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Cooper Companies by 1.5% in the 4th quarter. JPMorgan Chase & Co. now owns 5,004,523 shares of the medical device company’s stock valued at $460,066,000 after buying an additional 74,501 shares during the period. Geode Capital Management LLC lifted its position in Cooper Companies by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,906,463 shares of the medical device company’s stock valued at $449,907,000 after buying an additional 109,907 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Cooper Companies by 14.6% during the fourth quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company’s stock worth $415,985,000 after buying an additional 574,899 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.