Cooper Companies’ (COO) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Cooper Companies (NASDAQ:COO) in a research report report published on Friday morning,Benzinga reports. Piper Sandler currently has a $115.00 target price on the medical device company’s stock, down from their previous target price of $120.00.

A number of other research analysts have also weighed in on the company. StockNews.com lowered Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company upped their target price on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Morgan Stanley lowered their target price on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research report on Friday. Finally, Robert W. Baird decreased their price target on shares of Cooper Companies from $117.00 to $107.00 and set an “outperform” rating on the stock in a report on Friday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $111.89.

Cooper Companies Stock Performance

NASDAQ COO opened at $85.00 on Friday. The company’s 50 day moving average is $92.38 and its 200-day moving average is $99.44. The firm has a market cap of $16.96 billion, a P/E ratio of 43.59, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. Cooper Companies has a 12-month low of $82.61 and a 12-month high of $112.38. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The firm had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. Sell-side analysts predict that Cooper Companies will post 3.98 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in Cooper Companies by 1.2% during the third quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock valued at $947,897,000 after purchasing an additional 104,521 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Cooper Companies by 2.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,678,965 shares of the medical device company’s stock valued at $705,928,000 after purchasing an additional 155,233 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Cooper Companies by 1.5% during the 4th quarter. JPMorgan Chase & Co. now owns 5,004,523 shares of the medical device company’s stock valued at $460,066,000 after purchasing an additional 74,501 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cooper Companies by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,906,463 shares of the medical device company’s stock valued at $449,907,000 after buying an additional 109,907 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Cooper Companies by 14.6% in the 4th quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company’s stock worth $415,985,000 after buying an additional 574,899 shares during the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

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.