The Cooper Companies, Inc. to Post Q3 2022 Earnings of $3.23 Per Share, William Blair Forecasts (NYSE:COO)

The Cooper Companies, Inc. (NYSE:COO – Get Rating) – Equities researchers at William Blair cut their Q3 2022 earnings estimates for Cooper Companies in a report issued on Friday, June 17th. William Blair analyst A. Brackmann now forecasts that the medical device company will earn $3.23 per share for the quarter, down from their previous estimate of $3.42. The consensus estimate for Cooper Companies’ current full-year earnings is $13.19 per share. William Blair also issued estimates for Cooper Companies’ Q4 2022 earnings at $3.42 EPS, FY2022 earnings at $13.12 EPS, Q1 2023 earnings at $3.25 EPS, Q2 2023 earnings at $3.42 EPS, Q3 2023 earnings at $3.77 EPS, Q4 2023 earnings at $3.90 EPS and FY2023 earnings at $14.35 EPS.

Cooper Companies (NYSE:COO – Get Rating) last posted its quarterly earnings data on Thursday, June 2nd. The medical device company reported $3.24 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.19). The company had revenue of $829.80 million during the quarter, compared to analyst estimates of $821.03 million. Cooper Companies had a net margin of 30.20% and a return on equity of 9.48%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.38 earnings per share.

COO has been the subject of a number of other reports. Stephens decreased their price objective on Cooper Companies from $500.00 to $460.00 and set an “overweight” rating for the company in a report on Friday, June 3rd. Stifel Nicolaus cut their price target on shares of Cooper Companies from $475.00 to $450.00 in a research report on Monday, June 6th. Wells Fargo & Company cut their price target on shares of Cooper Companies from $495.00 to $380.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Piper Sandler cut their price target on shares of Cooper Companies from $500.00 to $430.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 31st. Finally, KeyCorp cut their price target on shares of Cooper Companies from $414.00 to $408.00 and set an “overweight” rating on the stock in a research report on Friday, June 3rd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Cooper Companies has a consensus rating of “Buy” and an average target price of $432.89.

NYSE COO opened at $304.94 on Monday. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 2.10 and a beta of 0.90. Cooper Companies has a twelve month low of $297.34 and a twelve month high of $463.59. The stock has a fifty day simple moving average of $353.61 and a 200 day simple moving average of $386.56. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 0.33.

In related news, Director Jody S. Lindell sold 700 shares of the firm’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $421.04, for a total value of $294,728.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert S. Weiss sold 13,039 shares of the business’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $415.24, for a total value of $5,414,314.36. The disclosure for this sale can be found here. Insiders have sold a total of 14,039 shares of company stock worth $5,832,207 in the last three months. Insiders own 1.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in Cooper Companies during the first quarter worth $29,000. Liberty Wealth Management LLC grew its holdings in Cooper Companies by 1,340.0% during the third quarter. Liberty Wealth Management LLC now owns 72 shares of the medical device company’s stock worth $30,000 after buying an additional 67 shares in the last quarter. PrairieView Partners LLC bought a new position in Cooper Companies in the 4th quarter valued at $33,000. Trust Co. of Vermont bought a new position in Cooper Companies in the 4th quarter valued at $36,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Cooper Companies by 56.5% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 97 shares of the medical device company’s stock valued at $41,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 98.38% of the company’s stock.

Cooper Companies Company Profile (Get Rating)

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 offers spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, myopia, ocular dryness and eye fatigues in the Americas, Europe, Middle East, Africa, and Asia Pacific.

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