Cooper Companies (NASDAQ:COO) Price Target Raised to $104.00 at Morgan Stanley

Cooper Companies (NASDAQ:COO) had its price target raised by equities researchers at Morgan Stanley from $95.00 to $104.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the medical device company’s stock. Morgan Stanley’s price objective points to a potential downside of 4.16% from the company’s current price.

Other analysts have also issued reports about the company. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Piper Sandler raised their price target on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Jefferies Financial Group raised Cooper Companies from a “hold” rating to a “buy” rating and raised their price target for the stock from $107.00 to $115.00 in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company raised their price target on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.00.

Cooper Companies Stock Up 0.2 %

COO opened at $108.51 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The firm has a market cap of $21.61 billion, a P/E ratio of 63.83, a PEG ratio of 2.55 and a beta of 0.98. Cooper Companies has a 52 week low of $75.93 and a 52 week high of $108.68. The business’s fifty day simple moving average is $94.63 and its 200 day simple moving average is $94.87.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. As a group, equities research analysts anticipate that Cooper Companies will post 3.66 EPS for the current fiscal year.

Insider Transactions at Cooper Companies

In related news, COO Daniel G. Mcbride sold 114,992 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the sale, the chief operating officer now directly owns 44,696 shares in the company, valued at approximately $4,714,534.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Agostino Ricupati sold 1,601 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction of $172,956.03. Following the sale, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Daniel G. Mcbride sold 114,992 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total value of $12,129,356.16. Following the sale, the chief operating officer now owns 44,696 shares in the company, valued at $4,714,534.08. The disclosure for this sale can be found here. Insiders have sold a total of 141,381 shares of company stock worth $14,927,361 in the last three months. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cooper Companies

Several hedge funds have recently modified their holdings of COO. Benjamin F. Edwards & Company Inc. increased its holdings in Cooper Companies by 248.6% during 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 during the last quarter. Innealta Capital LLC purchased a new stake in Cooper Companies during the 2nd quarter worth approximately $25,000. Covestor Ltd increased its holdings in Cooper Companies by 305.9% during the 1st quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock worth $28,000 after purchasing an additional 208 shares during the last quarter. Crewe Advisors LLC increased its holdings in Cooper Companies by 286.4% during the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after purchasing an additional 252 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Cooper Companies by 358.6% during the 1st 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. 24.39% of the stock is currently 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.