Cooper Companies Inc (NYSE:COO) to Issue Semiannual Dividend of $0.03

Cooper Companies Inc (NYSE:COO) declared a semiannual dividend on Friday, January 5th, Wall Street Journal reports. Stockholders of record on Tuesday, January 23rd will be paid a dividend of 0.03 per share by the medical device company on Friday, February 9th. This represents a dividend yield of 0.03%. The ex-dividend date of this dividend is Monday, January 22nd.

Cooper Companies has a payout ratio of 0.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cooper Companies to earn $12.47 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 0.5%.

Shares of Cooper Companies (NYSE:COO) traded down $2.35 during mid-day trading on Friday, hitting $228.64. 660,200 shares of the stock were exchanged, compared to its average volume of 551,900. Cooper Companies has a 12 month low of $175.73 and a 12 month high of $256.39. The firm has a market capitalization of $11,280.00, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.41 and a quick ratio of 1.26.

Cooper Companies (NYSE:COO) last announced its earnings results on Thursday, December 7th. The medical device company reported $2.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.01. Cooper Companies had a net margin of 17.43% and a return on equity of 16.02%. The company had revenue of $561.50 million for the quarter, compared to analyst estimates of $558.86 million. During the same period in the prior year, the business earned $2.28 earnings per share. Cooper Companies’s quarterly revenue was up 8.3% on a year-over-year basis. equities research analysts anticipate that Cooper Companies will post 11.51 earnings per share for the current year.

In other news, Director Allan E. Rubenstein sold 500 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $222.00, for a total transaction of $111,000.00. Following the completion of the sale, the director now owns 6,590 shares of the company’s stock, valued at $1,462,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary S. Petersmeyer sold 785 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $229.06, for a total transaction of $179,812.10. The disclosure for this sale can be found here. Insiders sold 47,935 shares of company stock valued at $10,813,768 in the last ninety days. Insiders own 1.60% of the company’s stock.

Several equities analysts recently weighed in on COO shares. Zacks Investment Research lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Oppenheimer set a $250.00 price objective on shares of Cooper Companies and gave the company a “hold” rating in a report on Friday, December 8th. Stifel Nicolaus restated a “buy” rating and issued a $265.00 price objective (down from $275.00) on shares of Cooper Companies in a report on Friday, December 8th. BMO Capital Markets restated a “buy” rating and issued a $272.00 price objective on shares of Cooper Companies in a report on Friday, October 13th. Finally, Robert W. Baird set a $273.00 price objective on shares of Cooper Companies and gave the company a “buy” rating in a report on Monday, October 16th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $259.70.

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Cooper Companies Company Profile

The Cooper Companies, Inc is a global medical device company. The Company operates through two business units: CooperVision, Inc and CooperSurgical, Inc CooperVision offers soft contact lenses for the vision correction market. CooperVision develops, manufactures and markets a range of single-use, two-week and monthly contact lenses.

Dividend History for Cooper Companies (NYSE:COO)

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