Cooper Companies (NASDAQ:COO) Sets New 1-Year Low – Here’s What Happened

Shares of The Cooper Companies, Inc. (NASDAQ:COO) hit a new 52-week low during trading on Monday . The stock traded as low as $72.17 and last traded at $73.41, with a volume of 1423 shares. The stock had previously closed at $73.77.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BNP Paribas raised shares of Cooper Companies to a “hold” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. reduced their target price on shares of Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Robert W. Baird lowered their target price on Cooper Companies from $117.00 to $107.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Piper Sandler restated an “overweight” rating and issued a $115.00 price target (down from $120.00) on shares of Cooper Companies in a report on Friday, March 7th. Finally, StockNews.com downgraded Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Cooper Companies has an average rating of “Moderate Buy” and a consensus target price of $110.25.

Cooper Companies Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. The firm has a 50-day moving average of $87.76 and a 200 day moving average of $96.14. The stock has a market capitalization of $14.77 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 2.25 and a beta of 1.01.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings data on Thursday, March 6th. The medical device company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $964.70 million during 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%. As a group, sell-side analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cooper Companies

Institutional investors and hedge funds have recently modified their holdings of the company. Public Sector Pension Investment Board raised its stake in Cooper Companies by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 8,690 shares of the medical device company’s stock valued at $959,000 after buying an additional 1,100 shares during the period. Captrust Financial Advisors raised its stake in Cooper Companies by 9.7% in the 3rd quarter. Captrust Financial Advisors now owns 3,816 shares of the medical device company’s stock valued at $421,000 after acquiring an additional 338 shares during the period. HighTower Advisors LLC raised its stake in Cooper Companies by 11.7% in the 3rd quarter. HighTower Advisors LLC now owns 20,506 shares of the medical device company’s stock valued at $2,261,000 after acquiring an additional 2,155 shares during the period. Stifel Financial Corp lifted its holdings in Cooper Companies by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 231,806 shares of the medical device company’s stock valued at $25,578,000 after purchasing an additional 2,670 shares during the last quarter. Finally, State Street Corp boosted its position in Cooper Companies by 1.2% during the third quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock worth $947,897,000 after purchasing an additional 104,521 shares during the period. 24.39% of the stock is owned by institutional investors.

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.