Cooper Companies (NASDAQ:COO) Stock Price Crosses Above 200-Day Moving Average of $91.34

The Cooper Companies, Inc. (NASDAQ:COO) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $91.34 and traded as high as $92.12. Cooper Companies shares last traded at $90.20, with a volume of 1,004,335 shares trading hands.

Analysts Set New Price Targets

Several research firms recently issued reports on COO. Piper Sandler upped their price target on shares of Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, March 1st. JPMorgan Chase & Co. raised shares of Cooper Companies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $100.00 to $120.00 in a report on Wednesday, March 13th. Redburn Atlantic raised shares of Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Tuesday, March 19th. Stifel Nicolaus reissued a “buy” rating and set a $110.00 target price (up from $105.00) on shares of Cooper Companies in a report on Friday, March 1st. Finally, Citigroup increased their target price on shares of Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $109.48.

Cooper Companies Stock Down 1.6 %

The firm’s 50-day moving average price is $97.59 and its 200 day moving average price is $91.34. The firm has a market cap of $17.93 billion, a P/E ratio of 61.68, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.86 and a debt-to-equity ratio of 0.35.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, February 29th. The medical device company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. The business had revenue of $931.60 million during the quarter, compared to analyst estimates of $915.93 million. Cooper Companies had a net margin of 7.93% and a return on equity of 8.79%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.90 earnings per share. As a group, research analysts expect that The Cooper Companies, Inc. will post 3.5 earnings per share for the current year.

Insider Activity at Cooper Companies

In related news, CAO Agostino Ricupati sold 54,724 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $100.89, for a total value of $5,521,104.36. Following the completion of the transaction, the chief accounting officer now owns 5,081 shares in the company, valued at approximately $512,622.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Gary S. Petersmeyer sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $103.51, for a total transaction of $103,510.00. Following the completion of the transaction, the director now owns 5,668 shares in the company, valued at approximately $586,694.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Agostino Ricupati sold 54,724 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $100.89, for a total transaction of $5,521,104.36. Following the transaction, the chief accounting officer now owns 5,081 shares of the company’s stock, valued at approximately $512,622.09. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cooper Companies

Several large investors have recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC purchased a new stake in Cooper Companies during the third quarter valued at about $26,000. Blue Trust Inc. lifted its stake in Cooper Companies by 54.8% during the fourth quarter. Blue Trust Inc. now owns 96 shares of the medical device company’s stock valued at $36,000 after buying an additional 34 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Cooper Companies by 182.5% during the fourth quarter. Lindbrook Capital LLC now owns 113 shares of the medical device company’s stock valued at $43,000 after buying an additional 73 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Cooper Companies by 60.5% during the third quarter. Venturi Wealth Management LLC now owns 138 shares of the medical device company’s stock valued at $44,000 after buying an additional 52 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. lifted its stake in Cooper Companies by 44.8% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 152 shares of the medical device company’s stock valued at $58,000 after buying an additional 47 shares in the last quarter. Institutional investors own 24.39% of the company’s stock.

About Cooper Companies

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