Zacks Investment Research upgraded shares of The Cooper Cos. (NYSE:COO) from a hold rating to a buy rating in a report published on Wednesday. They currently have $198.00 target price on the medical device company’s stock.
According to Zacks, “The Cooper Companies is expected to maintain a leading position in the markets of specialty lenses with its highly exclusive products of Bioinfinity, Clarity and silicone hydrogel lenses. The company's growing presence in the women's healthcare market through accretive acquisitions is also a significant positive in our view. Moreover, the company recently joined the S&P 500 universe under the Global Industry Classification Standard (GICS) Health Care Supplies Sub-Industry index, which is a major development. In fact, inorganic expansion has also been a key catalyst for The Cooper Companies with the acquisitions of Genesis and Recombine earlier this year. Meanwhile, the company is gaining prominence with the current estimate trends as most of the analysts raised their estimates upward in the last two months.”
Several other equities research analysts have also weighed in on COO. Robert W. Baird reissued an outperform rating and set a $185.00 price objective on shares of The Cooper Cos. in a research note on Saturday, June 25th. Stifel Nicolaus raised their price objective on The Cooper Cos. from $180.00 to $195.00 and gave the stock a buy rating in a research note on Thursday, June 30th. JPMorgan Chase & Co. started coverage on The Cooper Cos. in a research note on Wednesday, July 13th. They set a buy rating for the company. Piper Jaffray Cos. reissued an overweight rating and set a $185.00 price objective on shares of The Cooper Cos. in a research note on Tuesday, July 26th. Finally, Jefferies Group increased their target price on The Cooper Cos. from $190.00 to $210.00 and gave the company a buy rating in a report on Wednesday, August 24th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The Cooper Cos. has a consensus rating of Buy and a consensus price target of $187.40.
The Cooper Cos. (NYSE:COO) traded up 0.691% during midday trading on Wednesday, reaching $178.395. The company’s stock had a trading volume of 113,630 shares. The Cooper Cos. has a 12 month low of $119.28 and a 12 month high of $190.99. The stock’s 50-day moving average price is $183.77 and its 200-day moving average price is $170.08. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 34.931 and a beta of 0.29.
The Cooper Cos. (NYSE:COO) last released its quarterly earnings data on Thursday, September 1st. The medical device company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.01. The business earned $514.70 million during the quarter. The Cooper Cos. had a return on equity of 14.89% and a net margin of 13.14%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.97 earnings per share. Analysts predict that The Cooper Cos. will post $8.43 EPS for the current year.
In related news, Director William A. Kozy bought 270 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were bought at an average cost of $186.69 per share, for a total transaction of $50,406.30. Following the completion of the acquisition, the director now directly owns 770 shares in the company, valued at $143,751.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Kalkstein sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $178.55, for a total value of $178,550.00. Following the transaction, the director now owns 14,215 shares in the company, valued at $2,538,088.25. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in The Cooper Cos. by 2.8% in the second quarter. Vanguard Group Inc. now owns 3,644,352 shares of the medical device company’s stock valued at $625,262,000 after buying an additional 100,238 shares during the period. BlackRock Fund Advisors raised its position in The Cooper Cos. by 4.7% in the second quarter. BlackRock Fund Advisors now owns 1,709,402 shares of the medical device company’s stock valued at $293,282,000 after buying an additional 75,993 shares during the period. State Street Corp raised its position in The Cooper Cos. by 0.5% in the second quarter. State Street Corp now owns 1,557,106 shares of the medical device company’s stock valued at $267,142,000 after buying an additional 8,276 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in The Cooper Cos. by 3.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,472,668 shares of the medical device company’s stock valued at $252,666,000 after buying an additional 44,626 shares during the period. Finally, Westfield Capital Management Co. LP raised its position in The Cooper Cos. by 6.6% in the second quarter. Westfield Capital Management Co. LP now owns 785,363 shares of the medical device company’s stock valued at $134,745,000 after buying an additional 48,718 shares during the period. Institutional investors own 98.67% of the company’s stock.
About The Cooper Cos.
The Cooper Companies, Inc (Cooper) is a medical device company. The Company operates through two business units: CooperVision, Inc (CooperVision) and CooperSurgical, Inc (CooperSurgical). CooperVision develops, manufactures and markets a range of soft contact lenses for the vision correction market. CooperVision offers Biofinity monthly spherical, toric and multifocal lenses under the Avaira brand.
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