Cooper Companies (NASDAQ:COO) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Cooper Companies (NASDAQ:COO) from a buy rating to a hold rating in a research note issued to investors on Saturday.

COO has been the topic of several other reports. Citigroup lowered their price target on Cooper Companies from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $76.00 price target (down from $110.00) on shares of Cooper Companies in a research report on Friday, May 30th. Piper Sandler reiterated an “overweight” rating and set a $105.00 price target (down from $115.00) on shares of Cooper Companies in a research report on Friday, May 30th. Robert W. Baird lowered their price target on Cooper Companies from $107.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.38.

Cooper Companies Stock Up 1.6%

COO opened at $72.33 on Friday. Cooper Companies has a 12 month low of $65.00 and a 12 month high of $112.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. The stock has a market cap of $14.46 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.25 and a beta of 0.98. The stock’s 50 day moving average price is $78.35 and its 200 day moving average price is $87.31.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Thursday, May 29th. The medical device company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $995.12 million. During the same period last year, the firm earned $0.85 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Cooper Companies will post 3.98 earnings per share for the current year.

Hedge Funds Weigh In On Cooper Companies

A number of hedge funds have recently modified their holdings of COO. Covestor Ltd boosted its position in shares of Cooper Companies by 35.5% in the fourth quarter. Covestor Ltd now owns 458 shares of the medical device company’s stock worth $42,000 after buying an additional 120 shares during the period. Shell Asset Management Co. boosted its position in shares of Cooper Companies by 15.5% in the fourth quarter. Shell Asset Management Co. now owns 946 shares of the medical device company’s stock worth $87,000 after buying an additional 127 shares during the period. UMB Bank n.a. boosted its position in shares of Cooper Companies by 16.7% in the first quarter. UMB Bank n.a. now owns 902 shares of the medical device company’s stock worth $76,000 after buying an additional 129 shares during the period. Torray Investment Partners LLC boosted its position in shares of Cooper Companies by 0.8% in the fourth quarter. Torray Investment Partners LLC now owns 16,190 shares of the medical device company’s stock worth $1,488,000 after buying an additional 132 shares during the period. Finally, Horizon Investments LLC boosted its position in shares of Cooper Companies by 5.0% in the first quarter. Horizon Investments LLC now owns 2,859 shares of the medical device company’s stock worth $241,000 after buying an additional 136 shares during the period. 24.39% of the stock is currently 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.