Cooper Companies (NASDAQ:COO) Given Neutral Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Cooper Companies (NASDAQ:COO - Free Report) in a research report report published on Friday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has a $76.00 target price on the medical device company's stock, down from their prior target price of $110.00.

A number of other equities research analysts also recently issued reports on COO. Citigroup cut their price objective 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. Wall Street Zen upgraded shares of Cooper Companies from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Piper Sandler reiterated an "overweight" rating and issued a $115.00 price target (down previously from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. BNP Paribas raised shares of Cooper Companies to a "hold" rating in a report on Thursday, March 13th. Finally, Robert W. Baird lowered their price target on shares of Cooper Companies from $117.00 to $107.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cooper Companies presently has an average rating of "Moderate Buy" and an average target price of $100.38.

Cooper Companies Stock Down 13.8%

Shares of COO traded down $11.02 on Friday, hitting $68.94. 8,291,770 shares of the stock traded hands, compared to its average volume of 1,531,454. The company has a market capitalization of $13.79 billion, a PE ratio of 35.35, a P/E/G ratio of 2.25 and a beta of 1.08. 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 business has a 50 day simple moving average of $79.82 and a 200 day simple moving average of $88.37. Cooper Companies has a one year low of $65.95 and a one year 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 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $995.12 million. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm's revenue was up 6.3% on a year-over-year basis. As a group, equities analysts forecast that Cooper Companies will post 3.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cooper Companies

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

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.