Cooper Companies (NASDAQ:COO) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Cooper Companies (NASDAQ:COO) from a hold rating to a buy rating in a report issued on Tuesday.

COO has been the topic of several other research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Robert W. Baird raised their price target on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price objective on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Piper Sandler raised their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Price Performance

COO stock opened at $103.29 on Tuesday. The business has a 50 day moving average price of $105.04 and a 200 day moving average price of $98.66. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $20.57 billion, a price-to-earnings ratio of 57.54, a PEG ratio of 2.23 and a beta of 0.97. Cooper Companies has a fifty-two week low of $82.55 and a fifty-two week high of $112.38.

Insider Activity

In related news, CFO Brian G. Andrews sold 24,788 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the transaction, the chief financial officer now owns 6,614 shares of the company’s stock, valued at $700,422.60. This represents a 78.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Agostino Ricupati sold 1,601 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total value of $172,956.03. Following the completion of the sale, the chief accounting officer now directly owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. This trade represents a 24.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,381 shares of company stock valued at $15,508,071 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Cooper Companies by 1.2% in the third quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock valued at $947,897,000 after purchasing an additional 104,521 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Cooper Companies by 3.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,820,590 shares of the medical device company’s stock valued at $682,738,000 after acquiring an additional 231,155 shares during the last quarter. Geode Capital Management LLC grew its stake in Cooper Companies by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,796,556 shares of the medical device company’s stock valued at $527,476,000 after acquiring an additional 48,559 shares during the last quarter. Victory Capital Management Inc. raised its position in Cooper Companies by 23.0% during the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after acquiring an additional 737,726 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in Cooper Companies by 31.0% during the second quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock worth $205,511,000 after acquiring an additional 558,886 shares during the last quarter. 24.39% of the stock is currently owned by institutional investors and hedge funds.

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.