Cooper Companies’ (COO) Overweight Rating Reaffirmed at Piper Sandler

Cooper Companies (NASDAQ:COO)‘s stock had its “overweight” rating reiterated by analysts at Piper Sandler in a research report issued on Wednesday, Benzinga reports. They currently have a $115.00 price target on the medical device company’s stock. Piper Sandler’s price target suggests a potential upside of 34.49% from the company’s previous close.

COO has been the topic of several other reports. Citigroup lifted their price objective on shares of Cooper Companies from $108.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research report on Friday, May 31st. Robert W. Baird boosted their target price on shares of Cooper Companies from $116.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Redburn Atlantic raised shares of Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. raised shares of Cooper Companies from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $100.00 to $120.00 in a report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.42.

Cooper Companies Price Performance

Cooper Companies stock traded down $1.00 during mid-day trading on Wednesday, reaching $85.51. 612,096 shares of the company’s stock traded hands, compared to its average volume of 1,100,423. Cooper Companies has a 12-month low of $75.93 and a 12-month high of $104.07. The company has a quick ratio of 1.14, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $92.55 and a two-hundred day moving average of $94.77. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 50.07, a PEG ratio of 2.16 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Thursday, May 30th. The medical device company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The company had revenue of $942.60 million during the quarter, compared to the consensus estimate of $948.07 million. During the same period last year, the company earned $0.77 earnings per share. Cooper Companies’s revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Cooper Companies will post 3.57 earnings per share for the current year.

Hedge Funds Weigh In On Cooper Companies

A number of hedge funds have recently modified their holdings of COO. Vanguard Group Inc. raised its position in Cooper Companies by 303.0% in the first quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock worth $2,343,723,000 after acquiring an additional 17,367,502 shares in the last quarter. Capital World Investors increased its position in Cooper Companies by 301.7% during the 1st quarter. Capital World Investors now owns 5,654,023 shares of the medical device company’s stock worth $573,657,000 after purchasing an additional 4,246,519 shares in the last quarter. Janus Henderson Group PLC grew its stake in Cooper Companies by 279.8% in the 1st quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company’s stock worth $348,723,000 after acquiring an additional 2,532,186 shares during the period. Bessemer Group Inc. increased its stake in Cooper Companies by 305.2% in the first quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company’s stock valued at $203,013,000 after purchasing an additional 1,507,049 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in shares of Cooper Companies by 295.3% during the 1st quarter. Champlain Investment Partners LLC now owns 1,741,120 shares of the medical device company’s stock worth $176,654,000 after acquiring an additional 1,300,620 shares during the period. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

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.