Cooper Companies (NASDAQ:COO) Reaches New 12-Month Low – Time to Sell?

The Cooper Companies, Inc. (NASDAQ:COO) shares reached a new 52-week low during trading on Thursday . The company traded as low as $77.57 and last traded at $77.61, with a volume of 213277 shares traded. The stock had previously closed at $79.07.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COO. Wells Fargo & Company upped their target price on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. cut their target price on shares of Cooper Companies from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Citigroup decreased their price target on shares of Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday, March 7th. Stifel Nicolaus dropped their price objective on Cooper Companies from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Finally, Robert W. Baird lowered their price target on Cooper Companies from $117.00 to $107.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.89.

Cooper Companies Stock Performance

The firm has a market capitalization of $15.55 billion, a P/E ratio of 39.89, a P/E/G ratio of 2.25 and a beta of 1.02. The stock has a fifty day moving average of $91.67 and a 200-day moving average of $99.11. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The company had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. On average, research analysts anticipate that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Hedge Funds Weigh In On Cooper Companies

Several hedge funds have recently modified their holdings of COO. Fulton Bank N.A. raised its holdings in Cooper Companies by 3.0% during the fourth quarter. Fulton Bank N.A. now owns 3,718 shares of the medical device company’s stock worth $342,000 after acquiring an additional 109 shares in the last quarter. Covestor Ltd raised its stake in shares of Cooper Companies by 35.5% during the 4th quarter. Covestor Ltd now owns 458 shares of the medical device company’s stock worth $42,000 after purchasing an additional 120 shares in the last quarter. Shell Asset Management Co. raised its stake in shares of Cooper Companies by 15.5% during the 4th quarter. Shell Asset Management Co. now owns 946 shares of the medical device company’s stock worth $87,000 after purchasing an additional 127 shares in the last quarter. Torray Investment Partners LLC boosted its holdings in shares of Cooper Companies by 0.8% in the 4th quarter. Torray Investment Partners LLC now owns 16,190 shares of the medical device company’s stock valued at $1,488,000 after buying an additional 132 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Cooper Companies by 7.4% in the fourth quarter. Mather Group LLC. now owns 1,926 shares of the medical device company’s stock valued at $177,000 after buying an additional 133 shares in the last quarter. 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.