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

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

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from $107.00 to $115.00 in a research report on Tuesday, July 16th. Wells Fargo & Company boosted their price objective on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler boosted their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Robert W. Baird boosted their price objective on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.61.

Cooper Companies Price Performance

COO stock opened at $105.73 on Thursday. The firm has a market cap of $21.05 billion, a P/E ratio of 62.19, a P/E/G ratio of 2.34 and a beta of 0.98. The firm’s fifty day moving average is $91.53 and its 200 day moving average is $94.19. Cooper Companies has a 52 week low of $75.93 and a 52 week high of $106.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.95.

Cooper Companies (NASDAQ:COO) last issued its earnings results on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $997.30 million. During the same quarter last year, the company earned $0.84 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Cooper Companies will post 3.57 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Cooper Companies by 248.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the medical device company’s stock valued at $25,000 after purchasing an additional 174 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Cooper Companies by 412.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 251 shares of the medical device company’s stock valued at $95,000 after purchasing an additional 202 shares during the last quarter. Covestor Ltd raised its holdings in shares of Cooper Companies by 305.9% during the first quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock valued at $28,000 after purchasing an additional 208 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Cooper Companies during the second quarter valued at approximately $25,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Cooper Companies by 358.6% during the first quarter. Global Retirement Partners LLC now owns 321 shares of the medical device company’s stock valued at $33,000 after purchasing an additional 251 shares during the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

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.