Cooper Companies, Inc. (The) (COO) Stock Rating Lowered by Zacks Investment Research

Cooper Companies, Inc. (The) (NYSE:COO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, November 1st.

According to Zacks, “The Cooper Companies has had an impressive run on the bourse over the last six months. The company has seen strong growth at its CooperVision business segment of late. Notably, the segment banks on the platforms of MyDay, Clariti and Biofinity silicone hydrogel lenses. The CooperSurgical segment also delivered strong sales in the quarter. A strong guidance for fiscal 2017 instills our confidence on the stock. Cooper Companies has completed the acquisition of Procornea in the recent past. This added a leading ortho-k technology to Cooper Company’s lens portfolio and marked its foray in the emerging myopia controlled markets. However, the dampening outlook for the CooperSurgical segment indicates looming concerns. Furthermore, intensifying competition in the contact-lens space will continue to increase pricing pressure. Added to this, escalating debt levels and foreign exchange vulnerability are likely to mar the company;s bottom line.”

Other research analysts also recently issued research reports about the company. Piper Jaffray Companies raised their target price on Cooper Companies, Inc. (The) to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 19th. BidaskClub downgraded Cooper Companies, Inc. (The) from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and issued a $250.00 target price on shares of Cooper Companies, Inc. (The) in a research note on Tuesday, September 12th. Stephens restated an “equal weight” rating and issued a $250.00 target price (up previously from $235.00) on shares of Cooper Companies, Inc. (The) in a research note on Tuesday, September 12th. Finally, KeyCorp restated a “hold” rating on shares of Cooper Companies, Inc. (The) in a research note on Monday, August 28th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $260.22.

Shares of Cooper Companies, Inc. (COO) opened at $239.94 on Wednesday. Cooper Companies, Inc. has a twelve month low of $158.73 and a twelve month high of $256.39. The firm has a market capitalization of $11,680.00, a PE ratio of 25.52, a P/E/G ratio of 2.05 and a beta of 0.55. The company has a quick ratio of 1.29, a current ratio of 2.51 and a debt-to-equity ratio of 0.38.

Cooper Companies, Inc. (The) (NYSE:COO) last announced its quarterly earnings data on Thursday, August 31st. The medical device company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.06. Cooper Companies, Inc. (The) had a return on equity of 16.00% and a net margin of 16.45%. The company had revenue of $556.00 million during the quarter, compared to analyst estimates of $552.32 million. During the same quarter last year, the firm posted $2.30 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. analysts forecast that Cooper Companies, Inc. will post 9.72 earnings per share for the current year.

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In other Cooper Companies, Inc. (The) news, Director Gary S. Petersmeyer sold 3,977 shares of Cooper Companies, Inc. (The) stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.94, for a total value of $974,126.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP increased its stake in Cooper Companies, Inc. (The) by 354.8% in the 3rd quarter. GSA Capital Partners LLP now owns 6,449 shares of the medical device company’s stock worth $1,529,000 after purchasing an additional 5,031 shares during the period. California Public Employees Retirement System increased its stake in Cooper Companies, Inc. (The) by 11.4% in the 3rd quarter. California Public Employees Retirement System now owns 120,582 shares of the medical device company’s stock worth $28,591,000 after purchasing an additional 12,382 shares during the period. Janney Montgomery Scott LLC increased its stake in Cooper Companies, Inc. (The) by 3.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 10,817 shares of the medical device company’s stock worth $2,565,000 after purchasing an additional 363 shares during the period. Point72 Asset Management L.P. purchased a new position in Cooper Companies, Inc. (The) in the 3rd quarter worth approximately $2,161,000. Finally, Janus Henderson Group PLC increased its stake in Cooper Companies, Inc. (The) by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,185,268 shares of the medical device company’s stock worth $518,147,000 after purchasing an additional 9,477 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

About Cooper Companies, Inc. (The)

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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