Cooper Companies (NASDAQ:COO) Downgraded to Hold Rating by StockNews.com

Cooper Companies (NASDAQ:COO) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

COO has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Robert W. Baird lifted their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Morgan Stanley raised their price objective on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Stifel Nicolaus reissued a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Finally, Wells Fargo & Company upped their target price on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Cooper Companies currently has an average rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Stock Performance

Shares of COO stock opened at $99.05 on Wednesday. The stock has a market capitalization of $19.73 billion, a PE ratio of 55.03, a PEG ratio of 2.15 and a beta of 0.99. The business’s 50 day simple moving average is $106.48 and its 200 day simple moving average is $98.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. Cooper Companies has a one year low of $82.21 and a one year high of $112.38.

Cooper Companies (NASDAQ:COO) last released its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.30 million. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. Cooper Companies’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. As a group, research analysts forecast that Cooper Companies will post 3.65 earnings per share for the current year.

Insider Transactions at Cooper Companies

In other news, CFO Brian G. Andrews sold 24,788 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total value of $2,625,049.20. Following the completion of the sale, the chief financial officer now directly owns 6,614 shares of the company’s stock, valued at $700,422.60. This trade represents a 78.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Daniel G. Mcbride sold 114,992 shares of the 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 completion of the sale, the chief operating officer now directly owns 44,696 shares in the company, valued at $4,714,534.08. This trade represents a 72.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 256,373 shares of company stock worth $27,637,427 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Cooper Companies

A number of institutional investors and hedge funds have recently bought and sold shares of COO. LRI Investments LLC lifted its stake in shares of Cooper Companies by 4.5% during the 2nd quarter. LRI Investments LLC now owns 2,595 shares of the medical device company’s stock worth $227,000 after purchasing an additional 112 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Cooper Companies by 1.5% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 7,986 shares of the medical device company’s stock valued at $881,000 after buying an additional 117 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Cooper Companies by 0.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,600 shares of the medical device company’s stock valued at $1,362,000 after buying an additional 118 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of Cooper Companies by 2.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 5,767 shares of the medical device company’s stock worth $636,000 after buying an additional 119 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of Cooper Companies by 4.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,709 shares of the medical device company’s stock worth $236,000 after acquiring an additional 125 shares in the last quarter. 24.39% of the stock is owned by 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.