Cooper Companies (COO) Rating Lowered to Hold at Zacks Investment Research

Cooper Companies (NYSE:COO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, January 8th.

According to Zacks, “Year-to-date Cooper Companies had an impressive run on the bourse. The company has always witnessed impressive results at CooperSurgical business segment. The CooperVision segment also delivered strong sales. The segment continues to gain from the company’s silicone hydrogel lenses led by solid prospects in the MyDay, Clariti and Biofinity platforms. The company provided strong guidance for fiscal 2018. Notably, Cooper Companies has signed an asset-purchase agreement to acquire the flagship contraception platform of Israel-based Teva Pharmaceutical Industries — PARAGARD Intrauterine Device. On the flipside, intense competition in the contact lens space will continue to increase pricing pressure for the company. Added to this, escalating debt levels and foreign exchange vulnerability are likely to mar the company’s bottom line.”

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $235.00 price objective on shares of Cooper Companies in a research report on Tuesday, September 12th. Oppenheimer restated a “hold” rating and set a $250.00 price target on shares of Cooper Companies in a research note on Tuesday, September 12th. Robert W. Baird restated a “buy” rating and set a $273.00 price target (up from $267.00) on shares of Cooper Companies in a research note on Tuesday, September 12th. Stifel Nicolaus upped their price target on Cooper Companies from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, September 12th. Finally, Stephens restated an “equal weight” rating and set a $250.00 price target (up from $235.00) on shares of Cooper Companies in a research note on Tuesday, September 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $259.70.

Cooper Companies (NYSE:COO) traded up $0.12 during mid-day trading on Monday, hitting $230.96. The stock had a trading volume of 488,489 shares, compared to its average volume of 525,620. The company has a quick ratio of 1.26, a current ratio of 2.41 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $11,250.00, a price-to-earnings ratio of 30.71, a PEG ratio of 1.87 and a beta of 0.54. Cooper Companies has a 1-year low of $177.69 and a 1-year high of $256.39.

Cooper Companies (NYSE:COO) last posted its quarterly earnings results on Thursday, December 7th. The medical device company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.01. The business had revenue of $561.50 million during the quarter, compared to analyst estimates of $558.86 million. Cooper Companies had a return on equity of 16.02% and a net margin of 17.43%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.28 earnings per share. equities research analysts forecast that Cooper Companies will post 11.51 earnings per share for the current fiscal year.

In other Cooper Companies news, CEO Robert S. Weiss sold 32,500 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $224.70, for a total transaction of $7,302,750.00. Following the transaction, the chief executive officer now owns 119,111 shares of the company’s stock, valued at $26,764,241.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director A Thomas Bender sold 9,150 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $229.17, for a total value of $2,096,905.50. Following the transaction, the director now directly owns 11,205 shares in the company, valued at approximately $2,567,849.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,385 shares of company stock worth $12,289,463. Corporate insiders own 1.60% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Cooper Companies by 3.3% in the second quarter. Vanguard Group Inc. now owns 4,938,181 shares of the medical device company’s stock valued at $1,182,298,000 after purchasing an additional 156,449 shares during the period. BlackRock Inc. lifted its position in shares of Cooper Companies by 4.5% during the 2nd quarter. BlackRock Inc. now owns 3,210,032 shares of the medical device company’s stock valued at $768,546,000 after acquiring an additional 138,395 shares during the period. Janus Henderson Group PLC lifted its position in shares of Cooper Companies by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,185,268 shares of the medical device company’s stock valued at $518,147,000 after acquiring an additional 9,477 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in shares of Cooper Companies by 2.2% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,252,938 shares of the medical device company’s stock valued at $297,084,000 after acquiring an additional 26,688 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in shares of Cooper Companies by 47.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 636,882 shares of the medical device company’s stock valued at $151,011,000 after acquiring an additional 206,003 shares during the period. Hedge funds and other institutional investors own 96.73% of the company’s stock.

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About Cooper Companies

The Cooper Companies, Inc is a global medical device company. The Company operates through two business units: CooperVision, Inc and CooperSurgical, Inc CooperVision offers soft contact lenses for the vision correction market. CooperVision develops, manufactures and markets a range of single-use, two-week and monthly contact lenses.

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