The Cooper Companies, Inc. (NASDAQ:COO) Given Average Rating of “Moderate Buy” by Brokerages

The Cooper Companies, Inc. (NASDAQ:COO) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $84.7692.

A number of brokerages recently issued reports on COO. Stifel Nicolaus decreased their price objective on shares of Cooper Companies from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, August 28th. The Goldman Sachs Group set a $64.00 price target on shares of Cooper Companies and gave the company a “sell” rating in a report on Wednesday, October 1st. Piper Sandler dropped their price objective on Cooper Companies from $105.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, August 28th. Morgan Stanley set a $76.00 target price on Cooper Companies and gave the stock an “equal weight” rating in a report on Thursday, August 28th. Finally, JPMorgan Chase & Co. lowered their price target on Cooper Companies from $76.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, August 28th.

Insider Activity

In related news, CEO Albert G. White III acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were acquired at an average cost of $68.39 per share, for a total transaction of $683,900.00. Following the completion of the acquisition, the chief executive officer directly owned 226,151 shares in the company, valued at approximately $15,466,466.89. The trade was a 4.63% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian G. Andrews acquired 1,525 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was bought at an average cost of $65.68 per share, for a total transaction of $100,162.00. Following the completion of the transaction, the executive vice president directly owned 22,191 shares in the company, valued at $1,457,504.88. This represents a 7.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 17,975 shares of company stock worth $1,216,346. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Cooper Companies

Several hedge funds and other institutional investors have recently modified their holdings of COO. United Services Automobile Association bought a new position in Cooper Companies during the first quarter worth about $414,000. Janney Montgomery Scott LLC lifted its position in shares of Cooper Companies by 5.1% in the second quarter. Janney Montgomery Scott LLC now owns 97,394 shares of the medical device company’s stock valued at $6,931,000 after buying an additional 4,761 shares during the last quarter. Ruffer LLP bought a new position in shares of Cooper Companies during the 2nd quarter worth approximately $17,624,000. Asset Management One Co. Ltd. increased its holdings in shares of Cooper Companies by 3.2% during the 2nd quarter. Asset Management One Co. Ltd. now owns 88,313 shares of the medical device company’s stock worth $6,284,000 after acquiring an additional 2,746 shares during the last quarter. Finally, Amica Mutual Insurance Co. bought a new stake in Cooper Companies in the 2nd quarter valued at $1,060,000. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Trading Down 0.0%

NASDAQ:COO opened at $77.92 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29. Cooper Companies has a 1-year low of $61.78 and a 1-year high of $106.63. The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of 38.38, a PEG ratio of 1.83 and a beta of 1.02. The business’s 50-day moving average price is $71.30 and its two-hundred day moving average price is $71.81.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Wednesday, August 27th. The medical device company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.Cooper Companies’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. On average, equities analysts expect that Cooper Companies will post 3.98 earnings per share for the current year.

Cooper Companies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, September 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the medical device company to repurchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Cooper Companies Company Profile

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.