Mizuho Has Lowered Expectations for Cooper Companies (NASDAQ:COO) Stock Price

Cooper Companies (NASDAQ:COO - Get Free Report) had its target price reduced by stock analysts at Mizuho from $105.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the medical device company's stock. Mizuho's target price points to a potential upside of 23.99% from the stock's previous close.

Several other brokerages have also recently commented on COO. Piper Sandler reaffirmed an "overweight" rating and set a $105.00 price objective (down previously from $115.00) on shares of Cooper Companies in a research note on Friday, May 30th. Robert W. Baird reduced their price objective on shares of Cooper Companies from $107.00 to $97.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. UBS Group raised shares of Cooper Companies to a "buy" rating in a research note on Tuesday, June 17th. Needham & Company LLC upgraded shares of Cooper Companies from a "hold" rating to a "buy" rating and set a $94.00 target price for the company in a research report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $76.00 target price (down from $110.00) on shares of Cooper Companies in a research report on Friday, May 30th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.20.

Cooper Companies Price Performance

COO traded down $0.67 during trading on Wednesday, reaching $72.59. 548,856 shares of the company were exchanged, compared to its average volume of 2,225,527. The company's 50-day moving average is $74.23 and its two-hundred day moving average is $82.18. The company has a market cap of $14.52 billion, a price-to-earnings ratio of 35.24, a P/E/G ratio of 1.77 and a beta of 0.99. The company has a quick ratio of 1.23, a current ratio of 2.10 and a debt-to-equity ratio of 0.30. Cooper Companies has a 12-month low of $65.00 and a 12-month high of $112.38.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $995.12 million. Cooper Companies had a net margin of 10.39% and a return on equity of 9.60%. Cooper Companies's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. Research analysts forecast that Cooper Companies will post 3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cooper Companies

A number of hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC bought a new stake in Cooper Companies during the 4th quarter valued at $95,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cooper Companies during the 4th quarter valued at $1,984,000. Natixis Advisors LLC raised its holdings in Cooper Companies by 10.1% during the 4th quarter. Natixis Advisors LLC now owns 116,809 shares of the medical device company's stock valued at $10,738,000 after buying an additional 10,706 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Cooper Companies by 8.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 77,941 shares of the medical device company's stock valued at $7,165,000 after buying an additional 5,940 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new stake in Cooper Companies during the 4th quarter valued at $906,000. 24.39% of the stock is currently owned by institutional investors.

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.