Cooper Companies (NASDAQ:COO) Raised to “Buy” at Wall Street Zen

Cooper Companies (NASDAQ:COO) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Wednesday.

Other equities analysts have also recently issued reports about the company. BNP Paribas raised Cooper Companies to a “hold” rating in a report on Thursday, March 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 price objective (down from $120.00) on shares of Cooper Companies in a report on Friday, March 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Friday, March 7th. Citigroup lowered their price target on Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered their price target on Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.25.

Cooper Companies Stock Performance

NASDAQ:COO opened at $79.30 on Wednesday. The stock has a market cap of $15.86 billion, a P/E ratio of 40.67, a PEG ratio of 2.25 and a beta of 1.08. The stock has a 50 day simple moving average of $80.28 and a 200 day simple moving average of $89.52. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. Cooper Companies has a 1-year low of $69.81 and a 1-year high of $112.38.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings data on Thursday, March 6th. The medical device company reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $964.70 million during the quarter, compared to analysts’ expectations of $981.25 million. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. Research analysts anticipate that Cooper Companies will post 3.98 earnings per share for the current year.

Institutional Investors Weigh In On Cooper Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of COO. Barclays PLC grew its position in Cooper Companies by 0.7% during the 3rd quarter. Barclays PLC now owns 462,947 shares of the medical device company’s stock worth $51,082,000 after acquiring an additional 3,070 shares during the last quarter. JPMorgan Chase & Co. grew its position in Cooper Companies by 13.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,930,022 shares of the medical device company’s stock worth $543,979,000 after acquiring an additional 573,908 shares during the last quarter. Park Avenue Securities LLC grew its position in Cooper Companies by 4.9% during the 4th quarter. Park Avenue Securities LLC now owns 8,087 shares of the medical device company’s stock worth $743,000 after acquiring an additional 380 shares during the last quarter. HB Wealth Management LLC grew its position in Cooper Companies by 24.1% during the 4th quarter. HB Wealth Management LLC now owns 2,913 shares of the medical device company’s stock worth $268,000 after acquiring an additional 565 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Cooper Companies by 22.5% during the 4th quarter. UMB Bank n.a. now owns 773 shares of the medical device company’s stock worth $71,000 after acquiring an additional 142 shares during the last quarter. Institutional investors own 24.39% of the company’s stock.

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.