Citigroup Cuts Cooper Companies (NASDAQ:COO) Price Target to $115.00

Cooper Companies (NASDAQ:COO) had its price objective trimmed by Citigroup from $116.00 to $115.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the medical device company’s stock.

COO has been the subject of a number of other research reports. Morgan Stanley decreased 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 research report on Friday. Robert W. Baird increased their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Stifel Nicolaus reissued a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. StockNews.com raised shares of Cooper Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler increased their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies Price Performance

Shares of COO opened at $98.70 on Friday. The company has a 50 day moving average price of $104.49 and a 200-day moving average price of $98.81. Cooper Companies has a fifty-two week low of $82.69 and a fifty-two week high of $112.38. The stock has a market capitalization of $19.66 billion, a PE ratio of 50.62, a PEG ratio of 2.28 and a beta of 0.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company earned $0.87 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Equities analysts predict that Cooper Companies will post 4.03 earnings per share for the current fiscal year.

Insider Activity at Cooper Companies

In other Cooper Companies news, CEO Albert G. White III sold 114,992 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the transaction, the chief executive officer now directly owns 165,273 shares of the company’s stock, valued at $18,267,624.69. This trade represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the transaction, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. The trade was a 24.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cooper Companies

Several hedge funds and other institutional investors have recently modified their holdings of the business. LRI Investments LLC lifted its stake in shares of Cooper Companies by 4.5% in the second quarter. LRI Investments LLC now owns 2,595 shares of the medical device company’s stock worth $227,000 after buying an additional 112 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in Cooper Companies by 1.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,986 shares of the medical device company’s stock worth $881,000 after purchasing an additional 117 shares during the period. Commonwealth Equity Services LLC raised its stake in Cooper Companies by 0.8% during the second quarter. Commonwealth Equity Services LLC now owns 15,600 shares of the medical device company’s stock worth $1,362,000 after purchasing an additional 118 shares during the period. Bleakley Financial Group LLC raised its stake in Cooper Companies by 2.1% during the third quarter. Bleakley Financial Group LLC now owns 5,767 shares of the medical device company’s stock worth $636,000 after purchasing an additional 119 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in Cooper Companies by 4.8% during the second quarter. First Horizon Advisors Inc. now owns 2,709 shares of the medical device company’s stock worth $236,000 after purchasing an additional 125 shares during the period. 24.39% of the stock is 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.