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.
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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.
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