Cooper Companies (NASDAQ:COO) Issues Earnings Results

Cooper Companies (NASDAQ:COO) announced its earnings results on Wednesday. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.05, Briefing.com reports. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $997.30 million. During the same quarter in the previous year, the company posted $0.84 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis.

Cooper Companies Price Performance

Shares of COO opened at $105.73 on Friday. The company’s 50-day moving average price is $91.53 and its 200 day moving average price is $94.19. Cooper Companies has a 12-month low of $75.93 and a 12-month high of $106.95. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The firm has a market cap of $21.05 billion, a P/E ratio of 62.19, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98.

Analysts Set New Price Targets

A number of analysts have commented on COO shares. Stifel Nicolaus reiterated a “buy” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a report on Thursday. Jefferies Financial Group upgraded Cooper Companies from a “hold” rating to a “buy” rating and upped their price target for the company from $107.00 to $115.00 in a research report on Tuesday, July 16th. Piper Sandler lifted their price objective on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird boosted their price objective on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company raised their target price on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.61.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of COO. Vanguard Group Inc. increased its stake in Cooper Companies by 303.0% during 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 purchasing an additional 17,367,502 shares during the period. Capital World Investors increased its stake 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 buying an additional 4,246,519 shares during the period. Janus Henderson Group PLC lifted its holdings in Cooper Companies by 279.8% during 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 buying an additional 2,532,186 shares in the last quarter. Bessemer Group Inc. boosted its position in Cooper Companies by 305.2% in the 1st quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company’s stock valued at $203,013,000 after buying an additional 1,507,049 shares during the period. Finally, Swedbank AB acquired a new position in shares of Cooper Companies in the first quarter worth $139,246,000. 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.