Cooper Companies (NASDAQ:COO) Upgraded at Needham & Company LLC

Cooper Companies (NASDAQ:COO - Get Free Report) was upgraded by investment analysts at Needham & Company LLC from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a $94.00 price objective on the medical device company's stock. Needham & Company LLC's price target would indicate a potential upside of 34.65% from the stock's previous close.

Other research analysts have also recently issued reports about the company. Piper Sandler restated an "overweight" rating and issued a $105.00 price objective (down from $115.00) on shares of Cooper Companies in a research note on Friday, May 30th. Citigroup reduced their price target on 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 cut Cooper Companies from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $76.00 price target (down from $110.00) on shares of Cooper Companies in a research report on Friday, May 30th. Finally, Wells Fargo & Company reduced their price target on Cooper Companies from $118.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $99.70.

Cooper Companies Stock Up 1.5%

Cooper Companies stock traded up $1.05 during midday trading on Tuesday, reaching $69.81. The company's stock had a trading volume of 3,924,620 shares, compared to its average volume of 1,635,145. The stock's 50-day simple moving average is $77.44 and its 200-day simple moving average is $85.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.10 and a quick ratio of 1.23. Cooper Companies has a 52-week low of $65.00 and a 52-week high of $112.38. The stock has a market capitalization of $13.96 billion, a P/E ratio of 33.89, a PEG ratio of 1.70 and a beta of 0.98.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. Cooper Companies had a return on equity of 9.60% and a net margin of 10.39%. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $995.12 million. During the same period last year, the business posted $0.85 earnings per share. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Cooper Companies will post 3.98 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in COO. Price T Rowe Associates Inc. MD lifted its position in shares of Cooper Companies by 517.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,529,477 shares of the medical device company's stock valued at $324,466,000 after buying an additional 2,957,421 shares in the last quarter. Norges Bank purchased a new position in shares of Cooper Companies during the 4th quarter valued at approximately $217,906,000. FMR LLC lifted its position in shares of Cooper Companies by 97.6% during the 4th 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cooper Companies during the 4th quarter valued at approximately $64,826,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Cooper Companies by 17.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,734,327 shares of the medical device company's stock valued at $399,340,000 after buying an additional 686,751 shares in the last quarter. Hedge funds and other institutional investors own 24.39% of the company's stock.

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.