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

Cooper Companies (NASDAQ:COO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other equities analysts also recently commented on the stock. Robert W. Baird cut their price objective on shares of Cooper Companies from $107.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday. Piper Sandler restated an “overweight” rating and set a $105.00 price objective (down previously from $115.00) on shares of Cooper Companies in a research report on Friday. Stifel Nicolaus cut their price objective on shares of Cooper Companies from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Citigroup cut their price objective on shares of Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

Cooper Companies Trading Down 13.8%

Shares of Cooper Companies stock opened at $68.94 on Friday. The company has a fifty day simple moving average of $79.82 and a 200-day simple moving average of $88.37. Cooper Companies has a 12-month low of $65.95 and a 12-month high of $112.38. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.25 and a beta of 1.08.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $995.12 million. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. Cooper Companies’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. On average, equities analysts forecast that Cooper Companies will post 3.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Cooper Companies

Several hedge funds have recently modified their holdings of COO. Price T Rowe Associates Inc. MD boosted its position in shares of Cooper Companies by 517.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,529,477 shares of the medical device company’s stock worth $324,466,000 after acquiring an additional 2,957,421 shares during the last quarter. Norges Bank acquired a new stake in shares of Cooper Companies in the fourth quarter worth approximately $217,906,000. FMR LLC boosted its position in shares of Cooper Companies by 97.6% in the fourth quarter. FMR LLC now owns 2,218,112 shares of the medical device company’s stock worth $203,911,000 after acquiring an additional 1,095,805 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cooper Companies in the fourth quarter worth approximately $64,826,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Cooper Companies by 17.0% in the first quarter. Goldman Sachs Group Inc. now owns 4,734,327 shares of the medical device company’s stock worth $399,340,000 after acquiring an additional 686,751 shares during the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

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.