Cooper Companies (NASDAQ:COO) Sets New 12-Month Low Following Analyst Downgrade

The Cooper Companies, Inc. (NASDAQ:COO - Get Free Report) reached a new 52-week low during mid-day trading on Friday after Robert W. Baird lowered their price target on the stock from $107.00 to $97.00. Robert W. Baird currently has an outperform rating on the stock. Cooper Companies traded as low as $65.95 and last traded at $69.96, with a volume of 1215582 shares trading hands. The stock had previously closed at $79.96.

A number of other research firms also recently issued reports on COO. Stifel Nicolaus decreased their price target on shares of Cooper Companies from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Wall Street Zen raised shares of Cooper Companies from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Needham & Company LLC reissued a "hold" rating on shares of Cooper Companies in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reissued a "neutral" rating and set a $76.00 price target (down previously from $110.00) on shares of Cooper Companies in a research report on Friday. Finally, Citigroup reduced their price target on shares of Cooper Companies from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.38.

Hedge Funds Weigh In On Cooper Companies

A number of hedge funds and other institutional investors have recently modified their holdings of COO. Price T Rowe Associates Inc. MD raised its holdings in shares of Cooper Companies by 517.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,529,477 shares of the medical device company's stock worth $324,466,000 after buying an additional 2,957,421 shares during the last quarter. Norges Bank acquired a new stake in Cooper Companies during the fourth quarter valued at $217,906,000. FMR LLC grew its position in Cooper Companies by 97.6% during the fourth quarter. FMR LLC now owns 2,218,112 shares of the medical device company's stock valued at $203,911,000 after buying an additional 1,095,805 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Cooper Companies during the fourth quarter worth about $64,826,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Cooper Companies by 17.0% during the first quarter. Goldman Sachs Group Inc. now owns 4,734,327 shares of the medical device company's stock worth $399,340,000 after purchasing an additional 686,751 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Trading Down 13.8%

The firm has a market capitalization of $13.79 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.25 and a beta of 1.08. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $79.82 and a two-hundred day moving average price of $88.37.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. 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 company earned $0.85 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. As a group, research analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

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.