Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Expands By 28.2%

The Cooper Companies, Inc. (NASDAQ:COO) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,950,000 shares, a growth of 28.2% from the February 28th total of 3,080,000 shares. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 2.0% of the shares of the stock are sold short.

Cooper Companies Trading Up 0.6 %

Shares of NASDAQ:COO traded up $0.45 during trading hours on Wednesday, hitting $81.72. 695,493 shares of the company’s stock traded hands, compared to its average volume of 1,347,894. The firm has a market capitalization of $16.34 billion, a P/E ratio of 41.91, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The business has a fifty day moving average price of $88.87 and a 200-day moving average price of $96.83. Cooper Companies has a 1 year low of $77.05 and a 1 year high of $112.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12.

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 return on equity of 9.38% and a net margin of 10.07%. The company had revenue of $964.70 million during the quarter, compared to analysts’ expectations of $981.25 million. Equities analysts expect that Cooper Companies will post 3.98 earnings per share for the current year.

Hedge Funds Weigh In On Cooper Companies

A number of hedge funds have recently added to or reduced their stakes in the stock. Byrne Asset Management LLC bought a new position in Cooper Companies in the fourth quarter worth approximately $33,000. OFI Invest Asset Management purchased a new stake in shares of Cooper Companies in the 4th quarter worth $34,000. New Age Alpha Advisors LLC bought a new position in shares of Cooper Companies during the 4th quarter worth $38,000. Covestor Ltd grew its position 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 buying an additional 120 shares in the last quarter. Finally, West Financial Advisors LLC purchased a new position in shares of Cooper Companies during the fourth quarter valued at $49,000. 24.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COO. Morgan Stanley cut their price target on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Stifel Nicolaus reduced their price target on shares of Cooper Companies from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Robert W. Baird decreased their price target on shares of Cooper Companies from $117.00 to $107.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price objective on shares of Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, Citigroup lowered 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. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.25.

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.