The Cooper Companies, Inc. (NASDAQ:COO) Short Interest Up 8.1% in November

The Cooper Companies, Inc. (NASDAQ:COO) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 2,390,000 shares, an increase of 8.1% from the November 15th total of 2,210,000 shares. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is presently 1.9 days.

Cooper Companies Trading Up 0.9 %

COO traded up $0.85 during midday trading on Tuesday, reaching $94.83. 615,397 shares of the company’s stock traded hands, compared to its average volume of 1,164,644. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. Cooper Companies has a 52 week low of $84.76 and a 52 week high of $112.38. The stock has a market capitalization of $18.93 billion, a price-to-earnings ratio of 48.19, a P/E/G ratio of 2.52 and a beta of 0.97. The firm has a fifty day moving average of $103.26 and a two-hundred day moving average of $99.00.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings data on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. Cooper Companies’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. On average, equities analysts anticipate that Cooper Companies will post 3.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cooper Companies news, CEO Albert G. White III sold 114,992 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 165,273 shares of the company’s stock, valued at $18,267,624.69. This represents a 41.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cooper Companies

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Cooper Companies by 1.2% in the 3rd 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 worth $682,738,000 after acquiring an additional 231,155 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cooper Companies by 1.0% during the third 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 in the last quarter. Victory Capital Management Inc. grew its stake in Cooper Companies by 23.0% in 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 purchasing an additional 737,726 shares in the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Cooper Companies by 31.0% during the 2nd quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock worth $205,511,000 after purchasing an additional 558,886 shares during the period. Institutional investors own 24.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on COO shares. Wells Fargo & Company increased their target price on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. StockNews.com downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Citigroup cut their price target on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research note on Friday, December 6th. Finally, Piper Sandler boosted their price objective on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Cooper Companies currently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Cooper Companies Company Profile

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.