Cooper Companies (NASDAQ:COO) Price Target Raised to $115.00

Cooper Companies (NASDAQ:COO) had its price target boosted by Wells Fargo & Company from $110.00 to $115.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical device company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 21.64% from the stock’s current price.

Several other research firms also recently commented on COO. Robert W. Baird boosted their target price on shares of Cooper Companies from $116.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Jefferies Financial Group upgraded Cooper Companies from a “hold” rating to a “buy” rating and upped their price target for the stock from $107.00 to $115.00 in a report on Tuesday, July 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Friday, August 23rd. Finally, Piper Sandler increased their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Cooper Companies presently has an average rating of “Moderate Buy” and an average price target of $113.16.

Cooper Companies Stock Performance

Shares of COO opened at $94.54 on Thursday. The stock has a 50-day moving average of $90.97 and a 200-day moving average of $94.04. The company has a market cap of $18.82 billion, a PE ratio of 55.61, a P/E/G ratio of 2.34 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.14. Cooper Companies has a one year low of $75.93 and a one year high of $104.07.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.91 by $0.05. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.30 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Cooper Companies will post 3.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in COO. Benjamin F. Edwards & Company Inc. lifted its stake in Cooper Companies by 248.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the medical device company’s stock worth $25,000 after purchasing an additional 174 shares in the last quarter. Innealta Capital LLC bought a new position in Cooper Companies in the 2nd quarter worth about $25,000. Covestor Ltd raised its holdings in shares of Cooper Companies by 305.9% in the 1st quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock valued at $28,000 after acquiring an additional 208 shares in the last quarter. Crewe Advisors LLC boosted its position in shares of Cooper Companies by 286.4% during the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 252 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Cooper Companies by 358.6% in the first quarter. Global Retirement Partners LLC now owns 321 shares of the medical device company’s stock worth $33,000 after purchasing an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

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.