Cooper Companies (NASDAQ:COO) Rating Increased to Buy at Wall Street Zen

Cooper Companies (NASDAQ:COO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Friday.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus reduced their price target on Cooper Companies from $115.00 to $105.00 and set a "buy" rating for the company in a report on Friday, March 7th. BNP Paribas upgraded Cooper Companies to a "hold" rating in a research note on Thursday, March 13th. Piper Sandler reiterated an "overweight" rating and set a $105.00 price objective (down from $115.00) on shares of Cooper Companies in a research note on Friday, May 30th. Robert W. Baird cut their price objective on Cooper Companies from $107.00 to $97.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Finally, Citigroup cut their price objective on Cooper Companies from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $99.70.

Cooper Companies Stock Performance

COO traded up $1.45 on Friday, reaching $71.14. 5,274,900 shares of the stock were exchanged, compared to its average volume of 1,687,979. The company's 50-day moving average price is $76.42 and its 200 day moving average price is $84.13. Cooper Companies has a fifty-two week low of $65.00 and a fifty-two week high of $112.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.10 and a quick ratio of 1.23. The firm has a market capitalization of $14.23 billion, a PE ratio of 34.53, a PEG ratio of 1.70 and a beta of 0.98.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $995.12 million. Cooper Companies had a return on equity of 9.60% and a net margin of 10.39%. The company's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. As a group, sell-side analysts forecast that Cooper Companies will post 3.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COO. Price T Rowe Associates Inc. MD lifted its holdings in 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 valued at $324,466,000 after acquiring an additional 2,957,421 shares during the last quarter. Norges Bank acquired a new position in Cooper Companies in the fourth quarter valued at approximately $217,906,000. FMR LLC lifted its holdings in Cooper Companies by 97.6% in the fourth quarter. FMR LLC now owns 2,218,112 shares of the medical device company's stock valued at $203,911,000 after acquiring an additional 1,095,805 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Cooper Companies in the fourth quarter valued at approximately $64,826,000. Finally, Goldman Sachs Group Inc. lifted its stake in 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 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.