Needham & Company LLC Reaffirms “Hold” Rating for Cooper Companies (NASDAQ:COO)

Cooper Companies (NASDAQ:COO)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

Other equities research analysts also recently issued reports about the stock. KeyCorp assumed coverage on shares of Cooper Companies in a research report on Tuesday, February 6th. They issued a “sector weight” rating on the stock. Piper Sandler increased their price objective on shares of Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Citigroup increased their target price on shares of Cooper Companies from $108.00 to $116.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Mizuho increased their target price on shares of Cooper Companies from $102.50 to $115.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 target price (up from $105.00) on shares of Cooper Companies in a research report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $109.69.

Cooper Companies Stock Performance

NASDAQ:COO opened at $94.89 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.86 and a quick ratio of 1.08. The firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of 64.88, a PEG ratio of 2.45 and a beta of 0.97. The company’s 50-day moving average is $95.45 and its two-hundred day moving average is $93.33. Cooper Companies has a 1-year low of $75.93 and a 1-year high of $104.07.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings data 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. Cooper Companies had a net margin of 7.93% and a return on equity of 8.79%. The firm had revenue of $931.60 million for the quarter, compared to analyst estimates of $915.93 million. During the same period in the prior year, the business posted $2.90 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts forecast that Cooper Companies will post 3.5 EPS for the current year.

Insider Buying and Selling

In other Cooper Companies news, CAO Agostino Ricupati sold 54,724 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $100.89, for a total transaction of $5,521,104.36. Following the sale, the chief accounting officer now owns 5,081 shares in the company, valued at approximately $512,622.09. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Agostino Ricupati sold 54,724 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $100.89, for a total value of $5,521,104.36. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary S. Petersmeyer sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $103.51, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Cooper Companies

Several hedge funds and other institutional investors have recently modified their holdings of COO. Dimensional Fund Advisors LP boosted its stake in Cooper Companies by 8.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 297,675 shares of the medical device company’s stock worth $112,656,000 after buying an additional 22,884 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Cooper Companies by 34.4% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,322 shares of the medical device company’s stock valued at $879,000 after acquiring an additional 594 shares during the period. Quest Partners LLC bought a new position in shares of Cooper Companies during the fourth quarter valued at $805,000. Principal Securities Inc. bought a new position in shares of Cooper Companies in the fourth quarter valued at about $149,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Cooper Companies by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 24,319 shares of the medical device company’s stock valued at $9,204,000 after buying an additional 241 shares during the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Company Profile

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.