Cooper Companies (NYSE:COO) Updates FY22 Earnings Guidance

Cooper Companies (NYSE:COOGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share guidance of $13.09-13.29 for the period, compared to the consensus earnings per share estimate of $13.69. The company issued revenue guidance of $3.280-3.312 billion, compared to the consensus revenue estimate of $3.29 billion.Cooper Companies also updated its FY 2022 guidance to $13.09-$13.29 EPS.

COO stock traded up $9.60 during mid-day trading on Thursday, hitting $352.81. The stock had a trading volume of 378,622 shares, compared to its average volume of 338,769. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. Cooper Companies has a 1-year low of $309.43 and a 1-year high of $463.59. The company has a fifty day moving average of $374.45 and a 200 day moving average of $392.04. The stock has a market capitalization 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 released its quarterly earnings results on Thursday, June 2nd. The medical device company reported $3.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.19). The company had revenue of $829.80 million for the quarter, compared to the consensus estimate of $821.03 million. Cooper Companies had a return on equity of 9.89% and a net margin of 31.00%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.38 EPS. As a group, sell-side analysts expect that Cooper Companies will post 13.81 earnings per share for the current fiscal year.

COO has been the subject of a number of research reports. Citigroup upgraded Cooper Companies from a neutral rating to a buy rating and reduced their price objective for the stock from $460.00 to $405.00 in a research report on Tuesday, May 17th. Robert W. Baird reduced their price objective on Cooper Companies from $437.00 to $392.00 in a research report on Thursday, May 26th. Piper Sandler reduced their price objective on Cooper Companies from $500.00 to $430.00 and set an overweight rating for the company in a research report on Tuesday. Stephens raised their price objective on Cooper Companies from $430.00 to $500.00 and gave the stock an overweight rating in a research report on Monday, March 7th. Finally, StockNews.com initiated coverage on Cooper Companies in a research report on Thursday, March 31st. They issued a hold rating for the company. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $440.67.

In related news, Director Robert S. Weiss sold 13,039 shares of the firm’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $415.24, for a total transaction of $5,414,314.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary S. Petersmeyer sold 300 shares of the firm’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $410.55, for a total value of $123,165.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,646 shares of company stock valued at $8,195,614. 1.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COO. Captrust Financial Advisors boosted its position in shares of Cooper Companies by 6.7% in the 1st quarter. Captrust Financial Advisors now owns 1,026 shares of the medical device company’s stock worth $428,000 after purchasing an additional 64 shares during the last quarter. Private Advisor Group LLC increased its position in Cooper Companies by 16.5% during the first quarter. Private Advisor Group LLC now owns 1,005 shares of the medical device company’s stock worth $419,000 after buying an additional 142 shares during the last quarter. NEXT Financial Group Inc increased its position in Cooper Companies by 70.5% during the fourth quarter. NEXT Financial Group Inc now owns 960 shares of the medical device company’s stock worth $402,000 after buying an additional 397 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Cooper Companies during the first quarter worth approximately $396,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Cooper Companies during the fourth quarter worth approximately $365,000. 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.

Further Reading

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

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