Cooper Companies (NASDAQ:COO) Stock Rating Reaffirmed by Needham & Company LLC

Cooper Companies (NASDAQ:COO)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports.

Other research analysts have also issued research reports about the company. Citigroup lifted their price target on Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Piper Sandler upped their price target on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, March 1st. TheStreet cut Cooper Companies from a “b-” rating to a “c” rating in a research note on Thursday, February 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 price objective (up previously from $105.00) on shares of Cooper Companies in a research note on Friday, March 1st. Finally, KeyCorp began coverage on Cooper Companies in a research note on Tuesday, February 6th. They set a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Cooper Companies has an average rating of “Moderate Buy” and a consensus price target of $109.69.

Cooper Companies Stock Performance

Shares of Cooper Companies stock opened at $94.89 on Thursday. Cooper Companies has a 52 week low of $75.93 and a 52 week high of $104.07. The company has a quick ratio of 1.08, a current ratio of 1.86 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $18.86 billion, a P/E ratio of 64.88, a PEG ratio of 2.45 and a beta of 0.97. The company has a 50 day moving average price of $95.45 and a 200 day moving average price of $93.33.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings data on Thursday, February 29th. The medical device company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Cooper Companies had a net margin of 7.93% and a return on equity of 8.79%. The business had revenue of $931.60 million for the quarter, compared to analysts’ expectations of $915.93 million. During the same quarter last year, the company earned $2.90 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts expect that Cooper Companies will post 3.5 EPS for the current year.

Insider Buying and Selling at Cooper Companies

In related news, CAO Agostino Ricupati sold 54,724 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $100.89, for a total transaction of $5,521,104.36. Following the sale, the chief accounting officer now owns 5,081 shares of the company’s stock, valued at $512,622.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Agostino Ricupati sold 54,724 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $100.89, for a total transaction of $5,521,104.36. Following the transaction, the chief accounting officer now directly owns 5,081 shares in the company, valued at $512,622.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary S. Petersmeyer sold 1,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $103.51, for a total value of $103,510.00. Following the transaction, the director now owns 5,668 shares in the company, valued at $586,694.68. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cooper Companies

A number of large investors have recently modified their holdings of the company. Teacher Retirement System of Texas raised its holdings in shares of Cooper Companies by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 3,834 shares of the medical device company’s stock valued at $1,219,000 after buying an additional 95 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in Cooper Companies by 4.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,249 shares of the medical device company’s stock valued at $397,000 after acquiring an additional 56 shares in the last quarter. Signaturefd LLC raised its stake in Cooper Companies by 12.5% during the 3rd quarter. Signaturefd LLC now owns 1,388 shares of the medical device company’s stock valued at $441,000 after acquiring an additional 154 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Cooper Companies by 90.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 13,824 shares of the medical device company’s stock worth $4,396,000 after buying an additional 6,572 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Cooper Companies by 14.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,459 shares of the medical device company’s stock worth $15,092,000 after buying an additional 5,821 shares in the last quarter. 24.39% of the stock is currently owned by hedge funds and other 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.