Morgan Stanley Cuts Cooper Companies (NASDAQ:COO) Price Target to $102.00

Cooper Companies (NASDAQ:COO) had its target price trimmed by Morgan Stanley from $104.00 to $102.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the medical device company’s stock.

COO has been the topic of a number of other reports. Robert W. Baird raised their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Stifel Nicolaus restated a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. StockNews.com upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Piper Sandler lifted their price objective 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research report on Friday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Stock Down 4.4 %

COO stock opened at $98.70 on Friday. The company’s 50 day moving average price is $104.49 and its 200 day moving average price is $98.81. 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 has a fifty-two week low of $82.69 and a fifty-two week high of $112.38. The firm has a market capitalization of $19.66 billion, a price-to-earnings ratio of 50.62, a PEG ratio of 2.28 and a beta of 0.97.

Cooper Companies (NASDAQ:COO) last released its earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cooper Companies will post 4.03 EPS for the current fiscal year.

Insider Transactions at Cooper Companies

In other Cooper Companies news, CAO Agostino Ricupati sold 1,601 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total value of $172,956.03. Following the completion of the transaction, the chief accounting officer now owns 4,818 shares in the company, valued at $520,488.54. This represents a 24.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Albert G. White III sold 114,992 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $110.53, for a total value of $12,710,065.76. Following the completion of the transaction, the chief executive officer now owns 165,273 shares of the company’s stock, valued at approximately $18,267,624.69. This represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Cooper Companies

Institutional investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in Cooper Companies during the 2nd quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in Cooper Companies during the 3rd quarter worth $25,000. Crewe Advisors LLC grew its stake in Cooper Companies by 286.4% during the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after buying an additional 252 shares during the last quarter. Tortoise Investment Management LLC grew its stake in shares of Cooper Companies by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock worth $34,000 after purchasing an additional 169 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Cooper Companies by 144.9% in the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. 24.39% of the stock is 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.