Cooper Companies (NASDAQ:COO) Upgraded by Needham & Company LLC to “Buy” Rating

Needham & Company LLC upgraded shares of Cooper Companies (NASDAQ:COO) from a hold rating to a buy rating in a research note published on Tuesday, MarketBeat.com reports. They currently have $94.00 price objective on the medical device company’s stock.

Several other research analysts also recently issued reports on COO. BNP Paribas upgraded shares of Cooper Companies to a “hold” rating in a research note on Thursday, March 13th. Wells Fargo & Company dropped their target price on shares of Cooper Companies from $118.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, May 30th. Wall Street Zen downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Robert W. Baird decreased their price objective on shares of Cooper Companies from $107.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, May 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Cooper Companies from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $99.70.

Cooper Companies Trading Down 1.4%

NASDAQ:COO opened at $68.76 on Tuesday. Cooper Companies has a one year low of $65.00 and a one year high of $112.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.10 and a quick ratio of 1.23. The company’s 50-day simple moving average is $77.71 and its 200 day simple moving average is $85.77. The firm has a market capitalization of $13.75 billion, a P/E ratio of 33.38, a PEG ratio of 1.70 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $995.12 million. Cooper Companies had a net margin of 10.39% and a return on equity of 9.60%. Cooper Companies’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. As a group, analysts forecast that Cooper Companies will post 3.98 EPS for the current fiscal year.

Institutional Trading of Cooper Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its holdings in Cooper Companies by 2.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,678,965 shares of the medical device company’s stock valued at $705,928,000 after buying an additional 155,233 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Cooper Companies by 3.4% during the first quarter. JPMorgan Chase & Co. now owns 5,177,008 shares of the medical device company’s stock valued at $436,681,000 after buying an additional 172,485 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cooper Companies by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 4,906,463 shares of the medical device company’s stock valued at $449,907,000 after buying an additional 109,907 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Cooper Companies by 17.0% during the first quarter. Goldman Sachs Group Inc. now owns 4,734,327 shares of the medical device company’s stock valued at $399,340,000 after buying an additional 686,751 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Cooper Companies by 14.6% during the fourth quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company’s stock valued at $415,985,000 after buying an additional 574,899 shares during the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

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.