The Cooper Companies, Inc. (NASDAQ:COO) Short Interest Update

The Cooper Companies, Inc. (NASDAQ:COO) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 2,390,000 shares, an increase of 8.1% from the November 15th total of 2,210,000 shares. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

COO has been the subject of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 price target (up previously from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Citigroup dropped their target price on Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a report on Friday, December 6th. Robert W. Baird lifted their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company raised their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Insider Activity at Cooper Companies

In other news, CEO Albert G. White III sold 114,992 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total value of $12,710,065.76. Following the completion of the sale, the chief executive officer now owns 165,273 shares in the company, valued at $18,267,624.69. This represents a 41.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of 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 buying an additional 104,521 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Cooper Companies by 3.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,820,590 shares of the medical device company’s stock worth $682,738,000 after buying an additional 231,155 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cooper Companies by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,796,556 shares of the medical device company’s stock worth $527,476,000 after acquiring an additional 48,559 shares during the period. Victory Capital Management Inc. boosted its holdings in Cooper Companies by 23.0% in the 3rd quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock valued at $435,856,000 after purchasing an additional 737,726 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of Cooper Companies by 31.0% in the 2nd quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock valued at $205,511,000 after buying an additional 558,886 shares during the period. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Stock Performance

Cooper Companies stock traded up $0.48 during mid-day trading on Tuesday, reaching $94.46. 982,215 shares of the company traded hands, compared to its average volume of 1,166,100. The firm’s fifty day moving average is $103.26 and its two-hundred day moving average is $99.00. Cooper Companies has a fifty-two week low of $84.76 and a fifty-two week 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. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of 48.19, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $0.87 earnings per share. On average, equities research analysts expect that Cooper Companies will post 3.98 earnings per share for the current fiscal year.

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.