Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Declines By 16.5%

The Cooper Companies, Inc. (NASDAQ:COO - Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 2,480,000 shares, a drop of 16.5% from the February 29th total of 2,970,000 shares. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is presently 2.3 days.

Cooper Companies Stock Performance

Cooper Companies stock traded down $0.38 during mid-day trading on Friday, hitting $101.46. The company had a trading volume of 887,890 shares, compared to its average volume of 1,231,321. The company has a current ratio of 1.86, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. Cooper Companies has a 12-month low of $75.93 and a 12-month high of $104.07. The company's fifty day moving average is $97.44 and its 200-day moving average is $89.69. The company has a market capitalization of $20.17 billion, a price-to-earnings ratio of 69.37, a P/E/G ratio of 2.57 and a beta of 0.93.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced its earnings results on Thursday, February 29th. The medical device company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. The business had revenue of $931.60 million during the quarter, compared to the consensus estimate of $915.93 million. Cooper Companies had a return on equity of 8.79% and a net margin of 7.93%. The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.90 EPS. Equities research analysts predict that Cooper Companies will post 3.5 EPS for the current year.

Insider Transactions at Cooper Companies

In other news, CAO Agostino Ricupati sold 54,724 shares of Cooper Companies stock in a transaction on Monday, March 18th. The stock was sold at an average price of $100.89, for a total transaction of $5,521,104.36. Following the completion of the sale, the chief accounting officer now directly owns 5,081 shares in the company, valued at $512,622.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Gary S. Petersmeyer sold 600 shares of Cooper Companies stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $84.01, for a total value of $50,404.50. Following the completion of the sale, the director now directly owns 9,188 shares in the company, valued at $771,860.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Agostino Ricupati sold 54,724 shares of Cooper Companies stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $100.89, for a total value of $5,521,104.36. Following the completion of the sale, the chief accounting officer now owns 5,081 shares of the company's stock, valued at $512,622.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,324 shares of company stock worth $5,675,019. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Lipe & Dalton raised its stake in Cooper Companies by 0.9% in the 4th quarter. Lipe & Dalton now owns 3,360 shares of the medical device company's stock valued at $1,272,000 after purchasing an additional 30 shares during the last quarter. WD Rutherford LLC grew its holdings in Cooper Companies by 0.4% in the 4th quarter. WD Rutherford LLC now owns 9,126 shares of the medical device company's stock valued at $3,541,000 after buying an additional 33 shares in the last quarter. Blue Trust Inc. grew its holdings in Cooper Companies by 54.8% in the 4th quarter. Blue Trust Inc. now owns 96 shares of the medical device company's stock valued at $36,000 after buying an additional 34 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in Cooper Companies by 26.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 167 shares of the medical device company's stock valued at $53,000 after buying an additional 35 shares in the last quarter. Finally, Mirador Capital Partners LP grew its holdings in Cooper Companies by 1.0% in the 3rd quarter. Mirador Capital Partners LP now owns 3,809 shares of the medical device company's stock valued at $1,211,000 after buying an additional 37 shares in the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on COO shares. Redburn Atlantic upgraded shares of Cooper Companies from a "neutral" rating to a "buy" rating and set a $125.00 target price for the company in a report on Tuesday, March 19th. Mizuho boosted their target price on shares of Cooper Companies from $102.50 to $115.00 and gave the stock a "buy" rating in a report on Friday, March 1st. KeyCorp started coverage on shares of Cooper Companies in a report on Tuesday, February 6th. They issued a "sector weight" rating for the company. TheStreet downgraded shares of Cooper Companies from a "b-" rating to a "c" rating in a report on Thursday, February 29th. Finally, Piper Sandler boosted their price target on Cooper Companies from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $108.38.

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.

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