Cooper Companies (NASDAQ:COO) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Cooper Companies (NASDAQ:COO) in a research report report published on Wednesday, Benzinga reports. Piper Sandler currently has a $115.00 price objective on the medical device company’s stock.

A number of other research firms have also weighed in on COO. Robert W. Baird boosted their target price on 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 price objective on the stock in a research report on Tuesday, March 19th. Needham & Company LLC reaffirmed a hold rating on shares of Cooper Companies in a report on Friday, May 31st. JPMorgan Chase & Co. raised shares of Cooper Companies from a neutral rating to an overweight rating and increased their price target for the company from $100.00 to $120.00 in a report on Wednesday, March 13th. Finally, Citigroup boosted their price objective on Cooper Companies from $108.00 to $116.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $111.42.

Cooper Companies Stock Performance

NASDAQ COO opened at $85.51 on Wednesday. The firm has a market capitalization of $17.03 billion, a P/E ratio of 50.23, a price-to-earnings-growth ratio of 2.16 and a beta of 0.98. 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’s fifty day moving average price is $92.46 and its two-hundred day moving average price is $94.71. Cooper Companies has a 1 year low of $75.93 and a 1 year high of $104.07.

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

Hedge Funds Weigh In On Cooper Companies

A number of hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its position in shares of Cooper Companies by 248.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the medical device company’s stock worth $25,000 after purchasing an additional 174 shares during the period. Covestor Ltd increased its holdings in Cooper Companies by 305.9% in the 1st quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock valued at $28,000 after buying an additional 208 shares during the period. Global Retirement Partners LLC raised its position in shares of Cooper Companies by 358.6% in the 1st quarter. Global Retirement Partners LLC now owns 321 shares of the medical device company’s stock valued at $33,000 after buying an additional 251 shares in the last quarter. Blue Trust Inc. raised its position in shares of Cooper Companies by 54.8% in the 4th quarter. Blue Trust Inc. now owns 96 shares of the medical device company’s stock valued at $36,000 after buying an additional 34 shares in the last quarter. Finally, Clearstead Trust LLC bought a new stake in shares of Cooper Companies during the 1st quarter worth approximately $36,000. 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.