Cooper Companies (NYSE:COO) Releases FY 2022 Earnings Guidance

Cooper Companies (NYSE:COOGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $13.09-$13.29 for the period, compared to the consensus estimate of $13.74. The company issued revenue guidance of $3.28 billion-$3.31 billion, compared to the consensus revenue estimate of $3.29 billion.

Shares of NYSE COO traded up $9.60 during midday trading on Thursday, reaching $352.81. 379,045 shares of the company traded hands, compared to its average volume of 338,769. Cooper Companies has a 52 week low of $309.43 and a 52 week high of $463.59. The stock has a 50-day moving average price of $374.45 and a 200 day moving average price of $392.04. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.02 and a quick ratio of 0.67. The company has a market cap of $17.39 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 2.31 and a beta of 0.90.

Cooper Companies (NYSE:COOGet Rating) last issued its quarterly earnings data on Thursday, March 3rd. The medical device company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.14. Cooper Companies had a net margin of 31.00% and a return on equity of 9.89%. The business had revenue of $787.20 million for the quarter, compared to analysts’ expectations of $739.30 million. During the same period in the previous year, the business earned $3.17 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. As a group, analysts expect that Cooper Companies will post 13.81 EPS for the current year.

Several brokerages have commented on COO. Needham & Company LLC began coverage on shares of Cooper Companies in a research report on Friday, April 8th. They issued a hold rating on the stock. StockNews.com initiated coverage on shares of Cooper Companies in a research note on Thursday, March 31st. They set a hold rating for the company. Citigroup raised shares of Cooper Companies from a neutral rating to a buy rating and reduced their price objective for the company from $460.00 to $405.00 in a research note on Tuesday, May 17th. Piper Sandler reduced their price objective on shares of Cooper Companies from $500.00 to $430.00 and set an overweight rating for the company in a research note on Tuesday. Finally, KeyCorp reduced their price objective on shares of Cooper Companies from $459.00 to $414.00 and set an overweight rating for the company in a research note on Wednesday, May 25th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cooper Companies presently has a consensus rating of Buy and a consensus price target of $440.67.

In other Cooper Companies news, SVP Agostino Ricupati sold 5,607 shares of the stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $421.51, for a total transaction of $2,363,406.57. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jody S. Lindell sold 700 shares of the stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $421.04, for a total value of $294,728.00. The disclosure for this sale can be found here. Insiders sold 19,646 shares of company stock worth $8,195,614 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd boosted its position in shares of Cooper Companies by 117.1% in the first quarter. Covestor Ltd now owns 280 shares of the medical device company’s stock valued at $117,000 after acquiring an additional 151 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Cooper Companies in the first quarter valued at approximately $147,000. Walleye Capital LLC bought a new stake in shares of Cooper Companies in the first quarter valued at approximately $203,000. Atria Wealth Solutions Inc. bought a new position in Cooper Companies in the first quarter worth $217,000. Finally, Sawtooth Solutions LLC bought a new position in Cooper Companies in the first quarter worth $236,000. 98.38% of the stock is owned by institutional investors.

About Cooper Companies (Get Rating)

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 offers spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, myopia, ocular dryness and eye fatigues in the Americas, Europe, Middle East, Africa, and Asia Pacific.

See Also

Earnings History and Estimates for Cooper Companies (NYSE:COO)

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