Cooper Companies (NASDAQ:COO) Receives "Overweight" Rating from Piper Sandler

Cooper Companies (NASDAQ:COO - Get Free Report)'s stock had its "overweight" rating reaffirmed by analysts at Piper Sandler in a research note issued on Friday,Benzinga reports. They currently have a $105.00 price target on the medical device company's stock, down from their previous price target of $115.00. Piper Sandler's price target points to a potential upside of 52.31% from the company's previous close.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Cooper Companies from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Robert W. Baird cut their price objective on shares of Cooper Companies from $117.00 to $107.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company cut their price objective on shares of Cooper Companies from $118.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday. Citigroup cut their price objective on shares of Cooper Companies from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cooper Companies in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $100.38.

Cooper Companies Stock Performance

Cooper Companies stock traded down $11.02 during mid-day trading on Friday, reaching $68.94. 8,291,770 shares of the company traded hands, compared to its average volume of 1,531,454. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. Cooper Companies has a fifty-two week low of $65.95 and a fifty-two week high of $112.38. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 2.25 and a beta of 1.08. The firm's fifty day moving average is $79.82 and its two-hundred day moving average is $88.29.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $995.12 million. During the same quarter in the prior year, the business posted $0.85 EPS. Cooper Companies's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts expect that Cooper Companies will post 3.98 earnings per share for the current fiscal year.

Institutional Trading of Cooper Companies

Institutional investors have recently modified their holdings of the stock. Byrne Asset Management LLC acquired a new stake in shares of Cooper Companies in the fourth quarter valued at about $33,000. OFI Invest Asset Management purchased a new position in shares of Cooper Companies in the fourth quarter worth about $34,000. Zions Bancorporation National Association UT purchased a new position in shares of Cooper Companies in the first quarter worth about $33,000. City Holding Co. purchased a new position in shares of Cooper Companies in the first quarter worth about $34,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Cooper Companies in the fourth quarter worth about $38,000. Institutional investors and hedge funds 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.