The Cooper Companies, Inc. (NASDAQ:COO) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• The Cooper Companies, Inc. (NASDAQ:COO) has received an average recommendation of "Moderate Buy" from twelve brokerages, with a consensus 12-month target price of $96.73.
• The company reported earnings of $0.96 per share for the last quarter, surpassing analysts' expectations, and its revenue increased by 6.3% year-over-year, totaling approximately $1 billion.
• Recent analyst upgrades include a strong buy rating from BNP Paribas and a price target decrease to $93.00 from Wells Fargo, reflecting mixed sentiments on future performance.

The Cooper Companies, Inc. (NASDAQ:COO - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $96.73.

A number of research firms have recently commented on COO. 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 report on Friday, May 30th. Loop Capital set a $100.00 target price on Cooper Companies in a report on Tuesday, June 17th. Piper Sandler restated an "overweight" rating and issued a $105.00 target price (down from $115.00) on shares of Cooper Companies in a report on Friday, May 30th. BNP Paribas raised Cooper Companies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, BNP Paribas Exane raised Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 price target on the stock in a research note on Tuesday, July 22nd.

Cooper Companies Stock Down 0.8%

Shares of Cooper Companies stock traded down $0.55 during trading on Monday, hitting $71.74. 572,512 shares of the stock traded hands, compared to its average volume of 2,202,593. The firm has a market cap of $14.35 billion, a P/E ratio of 34.81, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99. The company has a current ratio of 2.10, a quick ratio of 1.23 and a debt-to-equity ratio of 0.30. Cooper Companies has a 52-week low of $65.00 and a 52-week high of $112.38. The stock's fifty day simple moving average is $72.66 and its 200 day simple moving average is $81.02.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Cooper Companies had a return on equity of 9.60% and a net margin of 10.39%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $995.12 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. On average, equities analysts predict that Cooper Companies will post 3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cooper Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in COO. AlphaQuest LLC grew its position in Cooper Companies by 171.3% during the second quarter. AlphaQuest LLC now owns 3,969 shares of the medical device company's stock valued at $282,000 after acquiring an additional 2,506 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Cooper Companies by 2.7% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 462,196 shares of the medical device company's stock worth $32,890,000 after acquiring an additional 12,078 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Cooper Companies by 3.2% in the second quarter. Asset Management One Co. Ltd. now owns 88,313 shares of the medical device company's stock worth $6,284,000 after acquiring an additional 2,746 shares in the last quarter. Wallace Advisory Group LLC raised its stake in Cooper Companies by 11.6% during the second quarter. Wallace Advisory Group LLC now owns 3,672 shares of the medical device company's stock valued at $261,000 after buying an additional 383 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of Cooper Companies by 5.1% during the second quarter. Whittier Trust Co. now owns 6,952 shares of the medical device company's stock valued at $495,000 after purchasing an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company's stock.

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.