The Cooper Cos. (NYSE:COO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $198.00 price target on the medical device company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 10.81% from the company’s current price.
According to Zacks, “The Cooper Companies is expected to maintain a leading position in the markets of specialty lenses with its highly exclusive products of Bioinfinity, Clarity and silicone hydrogel lenses. The company's growing presence in the women's healthcare market through accretive acquisitions is also a significant positive in our view. Moreover, the company recently joined the S&P 500 universe under the Global Industry Classification Standard (GICS) Health Care Supplies Sub-Industry index, which is a major development. In fact, inorganic expansion has also been a key catalyst for The Cooper Companies with the acquisitions of Genesis and Recombine earlier this year. Meanwhile, the company is gaining prominence with the current estimate trends as most of the analysts raised their estimates upward in the last two months.”
Other equities research analysts have also recently issued reports about the stock. KeyCorp set a $221.00 price objective on shares of The Cooper Cos. and gave the company a “buy” rating in a research note on Saturday, October 1st. JPMorgan Chase & Co. initiated coverage on shares of The Cooper Cos. in a research note on Wednesday, July 13th. They set a “buy” rating on the stock. Robert W. Baird lifted their price objective on shares of The Cooper Cos. from $185.00 to $196.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Wells Fargo & Co. restated a “hold” rating on shares of The Cooper Cos. in a research note on Sunday, September 11th. Finally, Stifel Nicolaus lifted their price objective on shares of The Cooper Cos. from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, June 30th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $187.40.
Shares of The Cooper Cos. (NYSE:COO) opened at 178.69 on Wednesday. The firm has a market capitalization of $8.71 billion, a PE ratio of 34.99 and a beta of 0.29. The firm’s 50 day moving average is $183.74 and its 200 day moving average is $170.14. The Cooper Cos. has a 1-year low of $119.28 and a 1-year high of $190.99.
The Cooper Cos. (NYSE:COO) last announced its quarterly earnings results on Thursday, September 1st. The medical device company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.01. The Cooper Cos. had a net margin of 13.14% and a return on equity of 14.89%. The company earned $514.70 million during the quarter. During the same period last year, the firm posted $1.97 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. Analysts anticipate that The Cooper Cos. will post $8.43 EPS for the current fiscal year.
In related news, Director William A. Kozy purchased 270 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were purchased at an average price of $186.69 per share, with a total value of $50,406.30. Following the purchase, the director now owns 770 shares of the company’s stock, valued at approximately $143,751.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Albert G. White III sold 20,000 shares of The Cooper Cos. stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $185.72, for a total value of $3,714,400.00. Following the completion of the transaction, the executive vice president now directly owns 41,639 shares in the company, valued at approximately $7,733,195.08. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of COO. BlueMountain Capital Management LLC bought a new position in shares of The Cooper Cos. during the first quarter worth $113,000. Mizuho Asset Management Co. Ltd. boosted its position in The Cooper Cos. by 90.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 672 shares of the medical device company’s stock valued at $115,000 after buying an additional 319 shares during the period. Robecosam AG acquired a new position in The Cooper Cos. during the second quarter valued at $136,000. Pacer Advisors Inc. boosted its position in The Cooper Cos. by 9.3% in the second quarter. Pacer Advisors Inc. now owns 821 shares of the medical device company’s stock valued at $141,000 after buying an additional 70 shares during the period. Finally, Bremer Trust National Association acquired a new position in The Cooper Cos. during the third quarter valued at $202,000. 98.67% of the stock is currently owned by hedge funds and other institutional investors.
About The Cooper Cos.
The Cooper Companies, Inc (Cooper) is a medical device company. The Company operates through two business units: CooperVision, Inc (CooperVision) and CooperSurgical, Inc (CooperSurgical). CooperVision develops, manufactures and markets a range of soft contact lenses for the vision correction market. CooperVision offers Biofinity monthly spherical, toric and multifocal lenses under the Avaira brand.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for The Cooper Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Cooper Cos. and related companies with MarketBeat.com's FREE daily email newsletter.