Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Drops By 6.3%

The Cooper Companies, Inc. (NASDAQ:COO) was the recipient of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 2,100,000 shares, a decline of 6.3% from the July 31st total of 2,240,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Thursday. Stifel Nicolaus reissued a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday. Robert W. Baird lifted their price target on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday. Jefferies Financial Group raised Cooper Companies from a “hold” rating to a “buy” rating and increased their price objective for the company from $107.00 to $115.00 in a report on Tuesday, July 16th. Finally, Piper Sandler lifted their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.61.

Institutional Investors Weigh In On Cooper Companies

Institutional investors have recently added to or reduced their stakes in the stock. New York Life Investment Management LLC increased its stake in Cooper Companies by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 7,783 shares of the medical device company’s stock worth $2,945,000 after buying an additional 49 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Cooper Companies during the fourth quarter worth approximately $522,000. Axxcess Wealth Management LLC raised its stake in Cooper Companies by 90.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,061 shares of the medical device company’s stock valued at $780,000 after purchasing an additional 979 shares during the last quarter. Sapient Capital LLC acquired a new position in Cooper Companies in the 4th quarter valued at $835,000. Finally, First National Trust Co purchased a new position in shares of Cooper Companies in the fourth quarter worth about $200,000. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Price Performance

COO opened at $105.73 on Monday. The company has a fifty day moving average of $91.53 and a two-hundred day moving average of $94.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.14 and a current ratio of 1.99. Cooper Companies has a fifty-two week low of $75.93 and a fifty-two week high of $106.95. The stock has a market capitalization of $21.05 billion, a price-to-earnings ratio of 62.10, a PEG ratio of 2.56 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. Cooper Companies’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. On average, research analysts expect that Cooper Companies will post 3.66 earnings per share for the current 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.