Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Expands By 14.7%

The Cooper Companies, Inc. (NASDAQ:COO) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 2,970,000 shares, a growth of 14.7% from the May 31st total of 2,590,000 shares. Based on an average trading volume of 1,070,000 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Robert W. Baird lifted their target price on shares of Cooper Companies from $116.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Redburn Atlantic raised shares of Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Tuesday, March 19th. Citigroup lifted their target price on shares of Cooper Companies from $108.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Friday, May 31st. Finally, JPMorgan Chase & Co. raised shares of Cooper Companies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $100.00 to $120.00 in a research note on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus target price of $111.42.

Institutional Investors Weigh In On Cooper Companies

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in Cooper Companies by 54.8% in the 4th quarter. Blue Trust Inc. now owns 96 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 34 shares during the last quarter. Lindbrook Capital LLC raised its stake in Cooper Companies by 182.5% in the 4th quarter. Lindbrook Capital LLC now owns 113 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 73 shares during the last quarter. Desjardins Global Asset Management Inc. raised its stake in Cooper Companies by 44.8% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 152 shares of the medical device company’s stock valued at $58,000 after purchasing an additional 47 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Cooper Companies by 30.4% in the 4th quarter. Venturi Wealth Management LLC now owns 180 shares of the medical device company’s stock valued at $68,000 after purchasing an additional 42 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in Cooper Companies by 123.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 223 shares of the medical device company’s stock valued at $84,000 after purchasing an additional 123 shares during the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Price Performance

Shares of NASDAQ COO opened at $87.30 on Monday. The firm has a market capitalization of $17.38 billion, a P/E ratio of 51.28, a PEG ratio of 2.16 and a beta of 0.98. Cooper Companies has a one year low of $75.93 and a one year high of $104.07. The company’s fifty day moving average is $92.73 and its two-hundred day moving average is $94.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.95.

Cooper Companies (NASDAQ:COO) last issued its earnings results on Thursday, May 30th. The medical device company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $942.60 million for the quarter, compared to analyst estimates of $948.07 million. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. Analysts forecast that Cooper Companies will post 3.57 EPS for the current fiscal year.

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.