Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Drops By 22.9%

The Cooper Companies, Inc. (NASDAQ:COO) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 2,160,000 shares, a drop of 22.9% from the June 30th total of 2,800,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Treasurer of the State of North Carolina raised its holdings in shares of Cooper Companies by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 22,861 shares of the medical device company’s stock valued at $8,652,000 after purchasing an additional 212 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Cooper Companies by 55.3% in the fourth quarter. Hsbc Holdings PLC now owns 87,718 shares of the medical device company’s stock valued at $33,188,000 after purchasing an additional 31,234 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Cooper Companies in the first quarter valued at about $2,211,000. Whittier Trust Co. raised its holdings in shares of Cooper Companies by 298.9% in the first quarter. Whittier Trust Co. now owns 11,940 shares of the medical device company’s stock valued at $1,211,000 after purchasing an additional 8,947 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in shares of Cooper Companies by 300.0% in the first quarter. Gulf International Bank UK Ltd now owns 17,148 shares of the medical device company’s stock valued at $1,739,000 after purchasing an additional 12,861 shares during the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Stock Up 0.1 %

Shares of Cooper Companies stock traded up $0.08 during trading on Tuesday, reaching $92.69. 776,707 shares of the company traded hands, compared to its average volume of 1,124,552. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.14. Cooper Companies has a 1-year low of $75.93 and a 1-year high of $104.07. The company has a 50 day moving average price of $91.14 and a 200-day moving average price of $94.24. The firm has a market capitalization of $18.46 billion, a PE ratio of 54.44, a P/E/G ratio of 2.31 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last released its earnings results on Thursday, May 30th. The medical device company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The company had revenue of $942.60 million for the quarter, compared to the consensus estimate of $948.07 million. During the same quarter in the previous year, the company earned $0.77 EPS. Cooper Companies’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts expect that Cooper Companies will post 3.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Friday, May 31st. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price target on shares of Cooper Companies in a report on Wednesday, July 3rd. 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 report on Tuesday, July 16th. Citigroup lifted their price target on shares of Cooper Companies from $108.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Robert W. Baird lifted 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 nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.78.

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.