Wall Street Zen Downgrades Cooper Companies (NASDAQ:COO) to Hold

Wall Street Zen cut shares of Cooper Companies (NASDAQ:COO - Free Report) from a buy rating to a hold rating in a research report report published on Saturday morning.

A number of other brokerages have also commented on COO. 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 report on Friday, March 7th. BNP Paribas upgraded shares of Cooper Companies to a "hold" rating in a research note on Thursday, March 13th. Piper Sandler restated an "overweight" rating and issued a $105.00 target price (down from $115.00) on shares of Cooper Companies in a research report on Friday, May 30th. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company lowered their price target on Cooper Companies from $118.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $100.38.

Cooper Companies Stock Up 1.6%

Shares of NASDAQ:COO traded up $1.15 during midday trading on Friday, hitting $72.33. 4,093,480 shares of the company's stock traded hands, compared to its average volume of 1,595,301. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91. The company has a market cap of $14.46 billion, a PE ratio of 37.09, a P/E/G ratio of 2.25 and a beta of 0.98. The firm's fifty day moving average price is $78.35 and its two-hundred day moving average price is $87.31. Cooper Companies has a twelve month low of $65.00 and a twelve month high of $112.38.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its earnings results on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, beating the consensus estimate 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 previous year, the business posted $0.85 EPS. The business's quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Cooper Companies will post 3.98 EPS for the current fiscal year.

Institutional Trading of Cooper Companies

Several hedge funds and other institutional investors have recently modified their holdings of COO. Byrne Asset Management LLC acquired a new stake in shares of Cooper Companies in the fourth quarter worth $33,000. Zions Bancorporation National Association UT bought a new position in Cooper Companies in the 1st quarter worth $33,000. OFI Invest Asset Management acquired a new stake in shares of Cooper Companies in the fourth quarter valued at about $34,000. City Holding Co. acquired a new stake in shares of Cooper Companies in the first quarter valued at about $34,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Cooper Companies in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 24.39% of the company's stock.

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.