Wells Fargo & Company Issues Pessimistic Forecast for Cooper Companies (NASDAQ:COO) Stock Price

Cooper Companies (NASDAQ:COO - Get Free Report) had its price objective lowered by stock analysts at Wells Fargo & Company from $118.00 to $93.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the medical device company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 34.90% from the company's current price.

A number of other brokerages have also recently issued reports on COO. Piper Sandler reiterated an "overweight" rating and issued a $115.00 price objective (down from $120.00) on shares of Cooper Companies in a report on Friday, March 7th. Robert W. Baird decreased 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. Needham & Company LLC reissued a "hold" rating on shares of Cooper Companies in a research note on Thursday, May 22nd. 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. Finally, Stifel Nicolaus cut their target price on shares of Cooper Companies from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $100.38.

Cooper Companies Price Performance

NASDAQ:COO traded down $11.02 during midday trading on Friday, hitting $68.94. 8,291,770 shares of the stock were exchanged, compared to its average volume of 1,531,454. Cooper Companies has a one year low of $65.95 and a one year high of $112.38. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 35.35, a P/E/G ratio of 2.25 and a beta of 1.08. The business has a 50-day moving average price of $79.82 and a two-hundred day moving average price of $88.37. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32.

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

Institutional Investors Weigh In On Cooper Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Byrne Asset Management LLC bought a new stake in shares of Cooper Companies during the 4th quarter worth about $33,000. OFI Invest Asset Management bought a new stake in Cooper Companies during the 4th quarter worth approximately $34,000. Zions Bancorporation National Association UT bought a new stake in shares of Cooper Companies in the 1st quarter valued at $33,000. City Holding Co. bought a new position in Cooper Companies during the first quarter worth $34,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Cooper Companies in the fourth quarter valued at $38,000. 24.39% of the stock is currently owned by institutional investors and hedge funds.

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.