Cooper Companies, Inc. (The) (COO) Downgraded to “Hold” at 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 note issued to investors 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 equities analysts also recently issued reports about the stock. Robert W. Baird increased their price objective on shares of Cooper Companies, Inc. (The) from $239.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $250.00 price objective on shares of Cooper Companies, Inc. (The) in a report on Thursday, July 6th. BMO Capital Markets reiterated a “buy” rating and issued a $255.00 target price on shares of Cooper Companies, Inc. (The) in a research report on Thursday, July 13th. Piper Jaffray Companies increased their target price on shares of Cooper Companies, Inc. (The) to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, July 19th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Cooper Companies, Inc. (The) in a research report on Friday, July 21st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $260.22.

Shares of Cooper Companies, Inc. (NYSE COO) traded up $8.01 on Wednesday, hitting $237.07. 372,500 shares of the stock traded hands, compared to its average volume of 428,541. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.51 and a quick ratio of 1.29. The stock has a market cap of $11,212.31, a PE ratio of 24.50, a PEG ratio of 1.97 and a beta of 0.55. Cooper Companies, Inc. has a 52-week low of $158.73 and a 52-week high of $256.39.

Cooper Companies, Inc. (The) (NYSE:COO) last issued its quarterly earnings results on Thursday, August 31st. The medical device company reported $2.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.58 by $0.06. Cooper Companies, Inc. (The) had a net margin of 16.45% and a return on equity of 16.00%. The business had revenue of $556.00 million for the quarter, compared to analyst estimates of $552.32 million. During the same quarter in the prior year, the business posted $2.30 EPS. Cooper Companies, Inc. (The)’s revenue for the quarter was up 8.0% compared to the same quarter last year. equities analysts expect that Cooper Companies, Inc. will post 9.72 earnings per share for the current fiscal year.

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In other news, Director Gary S. Petersmeyer sold 3,977 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $244.94, for a total transaction of $974,126.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of COO. Teachers Advisors LLC boosted its position in shares of Cooper Companies, Inc. (The) by 17.8% during the 1st quarter. Teachers Advisors LLC now owns 71,906 shares of the medical device company’s stock worth $14,373,000 after purchasing an additional 10,874 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cooper Companies, Inc. (The) by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 184,266 shares of the medical device company’s stock valued at $36,831,000 after purchasing an additional 8,192 shares in the last quarter. Morgan Stanley increased its stake in shares of Cooper Companies, Inc. (The) by 27.9% during the 1st quarter. Morgan Stanley now owns 51,070 shares of the medical device company’s stock valued at $10,208,000 after acquiring an additional 11,129 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Cooper Companies, Inc. (The) during the 1st quarter valued at about $321,000. Finally, Credit Suisse AG increased its stake in shares of Cooper Companies, Inc. (The) by 6.5% during the 1st quarter. Credit Suisse AG now owns 83,550 shares of the medical device company’s stock valued at $16,700,000 after acquiring an additional 5,082 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

Cooper Companies, Inc. (The) Company Profile

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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