Cooper Companies (NASDAQ:COO) Sees Strong Trading Volume

Shares of The Cooper Companies, Inc. (NASDAQ:COO) saw unusually-high trading volume on Wednesday . Approximately 687,982 shares were traded during trading, a decline of 39% from the previous session’s volume of 1,119,876 shares.The stock last traded at $109.58 and had previously closed at $109.85.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on COO shares. Jefferies Financial Group raised shares of Cooper Companies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $107.00 to $115.00 in a report on Tuesday, July 16th. Piper Sandler lifted their price target on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Robert W. Baird increased their price objective on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Finally, Wells Fargo & Company increased 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 investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Cooper Companies currently has an average rating of “Moderate Buy” and an average price target of $115.00.

Cooper Companies Stock Performance

The stock has a market cap of $21.70 billion, a price-to-earnings ratio of 64.52, a price-to-earnings-growth ratio of 2.63 and a beta of 0.98. The company’s 50-day simple moving average is $98.75 and its 200-day simple moving average is $95.56. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33.

Cooper Companies (NASDAQ:COO) last announced its earnings results 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. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. Cooper Companies’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. Analysts predict that The Cooper Companies, Inc. will post 3.65 EPS for the current fiscal year.

Insider Transactions at Cooper Companies

In related news, CEO Albert G. White III sold 114,992 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total value of $12,710,065.76. Following the completion of the sale, the chief executive officer now owns 165,273 shares in the company, valued at approximately $18,267,624.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Albert G. White III sold 114,992 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the transaction, the chief executive officer now owns 165,273 shares in the company, valued at approximately $18,267,624.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total value of $172,956.03. Following the transaction, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. The disclosure for this sale can be found here. Insiders have sold a total of 256,373 shares of company stock valued at $27,637,427 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Cooper Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. grew its holdings 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 valued at $25,000 after buying an additional 174 shares during the last quarter. Innealta Capital LLC bought a new stake in Cooper Companies in the 2nd quarter valued at $25,000. Covestor Ltd grew its position in Cooper Companies by 305.9% in 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 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 worth $30,000 after purchasing an additional 252 shares during the period. Finally, Tortoise Investment Management LLC raised its position in shares of Cooper Companies by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after buying an additional 169 shares during the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

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.