Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Increases By 28.2%

The Cooper Companies, Inc. (NASDAQ:COO) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 3,950,000 shares, a growth of 28.2% from the February 28th total of 3,080,000 shares. Approximately 2.0% of the company’s shares are short sold. Based on an average daily volume of 1,760,000 shares, the short-interest ratio is currently 2.2 days.

Analyst Ratings Changes

COO has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and issued a $115.00 price target (down from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. Wells Fargo & Company increased their target price on Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, December 6th. BNP Paribas raised Cooper Companies to a “hold” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. dropped their price objective on Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, StockNews.com downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.25.

Cooper Companies Trading Down 0.0 %

Shares of COO opened at $81.23 on Thursday. Cooper Companies has a 1-year low of $77.05 and a 1-year high of $112.38. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 2.25 and a beta of 1.02. The firm’s 50-day moving average price is $88.59 and its 200-day moving average price is $96.72. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. The firm had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. Sell-side analysts anticipate that Cooper Companies will post 3.98 EPS for the current year.

Hedge Funds Weigh In On Cooper Companies

A number of institutional investors have recently added to or reduced their stakes in COO. Wellington Management Group LLP increased its stake in shares of Cooper Companies by 517.1% in the 4th quarter. Wellington Management Group LLP now owns 175,152 shares of the medical device company’s stock worth $16,102,000 after acquiring an additional 146,771 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Cooper Companies by 3.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,370 shares of the medical device company’s stock valued at $861,000 after purchasing an additional 309 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Cooper Companies during the fourth quarter valued at approximately $17,392,000. Jefferies Financial Group Inc. boosted its position in shares of Cooper Companies by 138.9% in the 4th quarter. Jefferies Financial Group Inc. now owns 48,514 shares of the medical device company’s stock worth $4,460,000 after purchasing an additional 28,204 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Cooper Companies by 12.4% in the 4th quarter. Mackenzie Financial Corp now owns 19,910 shares of the medical device company’s stock worth $1,830,000 after buying an additional 2,193 shares during the last quarter. 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.