Cooper Companies (NASDAQ:COO) Given New $115.00 Price Target at Citigroup

Cooper Companies (NASDAQ:COO) had its price objective lowered by investment analysts at Citigroup from $116.00 to $115.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Citigroup’s target price suggests a potential upside of 16.51% from the company’s previous close.

Other analysts have also issued research reports about the stock. Piper Sandler raised their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Friday. Wells Fargo & Company boosted their price objective on Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley lowered their target price on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $115.00 price target (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Three 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, Cooper Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Cooper Companies Trading Down 4.4 %

Shares of COO opened at $98.70 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market cap of $19.66 billion, a PE ratio of 50.62, a PEG ratio of 2.28 and a beta of 0.97. Cooper Companies has a 1 year low of $82.69 and a 1 year high of $112.38. The stock has a 50 day simple moving average of $104.49 and a 200-day simple moving average of $98.80.

Cooper Companies (NASDAQ:COO) last issued its earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Cooper Companies will post 4.03 EPS for the current fiscal year.

Insider Activity

In related news, CAO Agostino Ricupati sold 1,601 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total value of $172,956.03. Following the completion of the sale, the chief accounting officer now owns 4,818 shares in the company, valued at approximately $520,488.54. This represents a 24.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Albert G. White III sold 114,992 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $110.53, for a total value 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. This trade represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Cooper Companies

Several large investors have recently bought and sold shares of COO. Innealta Capital LLC bought a new stake in shares of Cooper Companies in the second quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new stake in Cooper Companies during the 3rd quarter worth approximately $25,000. Crewe Advisors LLC lifted its stake in Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after buying an additional 252 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings in shares of Cooper Companies by 75.4% in 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 period. Finally, Covestor Ltd increased its position in shares of Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 24.39% of the company’s stock.

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.