Wall Street Zen Downgrades Cooper Companies (NASDAQ:COO) to Hold

Cooper Companies (NASDAQ:COO - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently weighed in on COO. Robert W. Baird lowered their target price on shares of Cooper Companies from $107.00 to $97.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $76.00 price target (down from $110.00) on shares of Cooper Companies in a report on Friday, May 30th. Wells Fargo & Company reduced their price target on shares of Cooper Companies from $118.00 to $93.00 and set an "overweight" rating for the company in a report on Friday, May 30th. UBS Group upgraded shares of Cooper Companies to a "buy" rating in a report on Tuesday, June 17th. Finally, Needham & Company LLC upgraded shares of Cooper Companies from a "hold" rating to a "buy" rating and set a $94.00 price objective for the company in a report on Tuesday, June 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.70.

Cooper Companies Stock Down 2.5%

Shares of COO opened at $74.77 on Friday. The firm's 50-day simple moving average is $74.92 and its 200 day simple moving average is $82.71. Cooper Companies has a 52 week low of $65.00 and a 52 week high of $112.38. The firm has a market cap of $14.95 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.23 and a current ratio of 2.10.

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. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $995.12 million. Cooper Companies had a net margin of 10.39% and a return on equity of 9.60%. The firm's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. On average, analysts forecast that Cooper Companies will post 3.98 earnings per share for the current year.

Institutional Trading of Cooper Companies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd grew its stake in Cooper Companies by 35.5% during the fourth quarter. Covestor Ltd now owns 458 shares of the medical device company's stock valued at $42,000 after acquiring an additional 120 shares in the last quarter. Shell Asset Management Co. grew its stake in Cooper Companies by 15.5% in the 4th quarter. Shell Asset Management Co. now owns 946 shares of the medical device company's stock worth $87,000 after buying an additional 127 shares in the last quarter. UMB Bank n.a. grew its stake in Cooper Companies by 16.7% in the 1st quarter. UMB Bank n.a. now owns 902 shares of the medical device company's stock worth $76,000 after buying an additional 129 shares in the last quarter. Horizon Investments LLC grew its stake in Cooper Companies by 5.0% in the 1st quarter. Horizon Investments LLC now owns 2,859 shares of the medical device company's stock worth $241,000 after buying an additional 136 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in Cooper Companies by 1.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 7,382 shares of the medical device company's stock worth $623,000 after buying an additional 140 shares in the last quarter. 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.

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