Cooper Companies (NASDAQ:COO) Stock Price Down 4.7% – Should You Sell?

Shares of The Cooper Companies, Inc. (NASDAQ:COO) dropped 4.7% on Friday . The stock traded as low as $89.04 and last traded at $89.26. Approximately 547,169 shares were traded during trading, a decline of 55% from the average daily volume of 1,227,139 shares. The stock had previously closed at $93.68.

Wall Street Analysts Forecast Growth

COO has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research note on Friday, December 6th. Citigroup decreased their target price on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, December 6th. Wells Fargo & Company upped their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, December 6th. StockNews.com cut shares of Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley dropped their target price on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Cooper Companies Price Performance

The stock has a market cap of $17.62 billion, a P/E ratio of 45.31, a price-to-earnings-growth ratio of 2.41 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91. The firm has a 50-day moving average price of $94.15 and a 200-day moving average price of $99.76.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings data on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 earnings per share. On average, analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cooper Companies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp increased its position in Cooper Companies by 1.2% during the 3rd quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock valued at $947,897,000 after buying an additional 104,521 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Cooper Companies by 2.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,678,965 shares of the medical device company’s stock worth $705,928,000 after acquiring an additional 155,233 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cooper Companies by 1.5% during the fourth quarter. JPMorgan Chase & Co. now owns 5,004,523 shares of the medical device company’s stock valued at $460,066,000 after acquiring an additional 74,501 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cooper Companies by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,906,463 shares of the medical device company’s stock worth $449,907,000 after purchasing an additional 109,907 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Cooper Companies by 14.6% in the 4th quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company’s stock worth $415,985,000 after purchasing an additional 574,899 shares during the last quarter. 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.