Cooper Companies (NYSE:COO) Reaches New 1-Year High After Analyst Upgrade

Shares of Cooper Companies Inc (NYSE:COO) reached a new 52-week high during trading on Thursday after Wells Fargo & Co raised their price target on the stock from $360.00 to $388.00. Wells Fargo & Co currently has an overweight rating on the stock. Cooper Companies traded as high as $346.97 and last traded at $345.62, with a volume of 11820 shares changing hands. The stock had previously closed at $343.85.

Other equities research analysts have also issued reports about the stock. Piper Jaffray Companies reissued a “buy” rating and set a $344.00 target price on shares of Cooper Companies in a research note on Friday, December 6th. KeyCorp raised their target price on Cooper Companies from $348.00 to $351.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Zacks Investment Research upgraded Cooper Companies from a “sell” rating to a “hold” rating and set a $325.00 price target for the company in a research note on Wednesday, November 20th. Northcoast Research reaffirmed a “buy” rating on shares of Cooper Companies in a report on Tuesday, December 3rd. Finally, Jefferies Financial Group lowered their price target on Cooper Companies from $358.00 to $330.00 and set an “in-line” rating on the stock in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Cooper Companies presently has a consensus rating of “Buy” and a consensus price target of $341.80.

In other news, Director Jody S. Lindell sold 3,500 shares of Cooper Companies stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $321.01, for a total value of $1,123,535.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael Kalkstein sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $320.35, for a total value of $3,043,325.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of COO. Smith Asset Management Group LP purchased a new stake in shares of Cooper Companies during the second quarter worth $9,638,000. Keudell Morrison Wealth Management acquired a new stake in Cooper Companies in the 2nd quarter valued at about $1,935,000. Commonwealth Bank of Australia lifted its stake in Cooper Companies by 33.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 777 shares of the medical device company’s stock worth $259,000 after purchasing an additional 194 shares in the last quarter. APG Asset Management N.V. lifted its stake in Cooper Companies by 117.9% in the 2nd quarter. APG Asset Management N.V. now owns 17,000 shares of the medical device company’s stock worth $5,029,000 after purchasing an additional 9,200 shares in the last quarter. Finally, Scotia Capital Inc. acquired a new position in shares of Cooper Companies during the 2nd quarter worth approximately $216,000. 96.33% of the stock is owned by hedge funds and other institutional investors.

The company has a current ratio of 1.05, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average price of $319.62 and a two-hundred day moving average price of $313.97. The firm has a market capitalization of $16.49 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 2.44 and a beta of 0.91.

Cooper Companies (NYSE:COO) last posted its quarterly earnings results on Thursday, December 5th. The medical device company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.27 by $0.03. Cooper Companies had a return on equity of 17.38% and a net margin of 17.59%. The firm had revenue of $691.60 million during the quarter, compared to analysts’ expectations of $683.83 million. During the same quarter last year, the firm earned $2.87 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts expect that Cooper Companies Inc will post 12.8 earnings per share for the current year.

The business also recently announced a semi-annual dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 23rd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. Cooper Companies’s dividend payout ratio (DPR) is presently 0.49%.

About Cooper Companies (NYSE:COO)

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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