Cooper Companies (COO) Announces Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Cooper Companies (NYSE:COO) issued its earnings results on Thursday. The medical device company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $2.96 by ($0.09), Briefing.com reports. The firm had revenue of $651.50 million during the quarter, compared to the consensus estimate of $645.25 million. Cooper Companies had a return on equity of 17.53% and a net margin of 5.23%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.65 EPS. Cooper Companies updated its FY 2019 guidance to $11.30-11.70 EPS and its FY19 guidance to $11.30-11.70 EPS.

Shares of NYSE COO opened at $277.03 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 2.58. The stock has a market cap of $13.51 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 2.11 and a beta of 0.77. Cooper Companies has a 12-month low of $216.47 and a 12-month high of $283.18.

In other news, COO Daniel G. Mcbride sold 10,310 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $264.44, for a total transaction of $2,726,376.40. Following the sale, the chief operating officer now directly owns 38,705 shares in the company, valued at approximately $10,235,150.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A Thomas Bender sold 7,150 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $269.36, for a total transaction of $1,925,924.00. Following the sale, the director now owns 18,355 shares in the company, valued at $4,944,102.80. The disclosure for this sale can be found here. Insiders have sold a total of 20,691 shares of company stock worth $5,527,869 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in COO. Resources Management Corp CT ADV purchased a new stake in shares of Cooper Companies during the 3rd quarter valued at about $203,000. Engineers Gate Manager LP purchased a new stake in Cooper Companies in the 3rd quarter worth about $208,000. Zeke Capital Advisors LLC purchased a new stake in Cooper Companies in the 3rd quarter worth about $209,000. Boston Private Wealth LLC purchased a new stake in Cooper Companies in the 3rd quarter worth about $213,000. Finally, Raymond James Trust N.A. purchased a new stake in Cooper Companies in the 3rd quarter worth about $214,000.

Several brokerages have commented on COO. Zacks Investment Research cut shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. Oppenheimer set a $270.00 price target on shares of Cooper Companies and gave the stock a “hold” rating in a research note on Friday, August 31st. BMO Capital Markets boosted their price target on shares of Cooper Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, August 31st. Wells Fargo & Co boosted their price target on shares of Cooper Companies from $290.00 to $295.00 and gave the stock an “outperform” rating in a research note on Monday, November 12th. Finally, ValuEngine upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $276.22.

TRADEMARK VIOLATION WARNING: “Cooper Companies (COO) Announces Quarterly Earnings Results, Misses Estimates By $0.09 EPS” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this news story can be read at https://www.dispatchtribunal.com/2018/12/07/cooper-companies-coo-announces-quarterly-earnings-results-misses-estimates-by-0-09-eps.html.

About Cooper Companies

The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.

Recommended Story: Balance Sheet

Earnings History for Cooper Companies (NYSE:COO)

Receive News & Ratings for Cooper Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Companies and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply