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

Needham & Company LLC reaffirmed their hold rating on shares of Cooper Companies (NASDAQ:COO) in a research report report published on Wednesday morning,Benzinga reports.

Several other analysts also recently issued reports on COO. Morgan Stanley upped their price objective on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Robert W. Baird upped their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Wells Fargo & Company increased their target price on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $115.00 price target (up previously from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Cooper Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Cooper Companies Trading Up 1.0 %

Cooper Companies stock opened at $104.46 on Wednesday. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 58.07, a price-to-earnings-growth ratio of 2.24 and a beta of 0.99. Cooper Companies has a 1 year low of $82.21 and a 1 year high of $112.38. The firm’s 50 day moving average price is $105.30 and its two-hundred day moving average price is $98.52. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99.

Cooper Companies (NASDAQ:COO) last issued its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $997.30 million. During the same period in the previous year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts predict that Cooper Companies will post 3.65 EPS for the current fiscal year.

Insider Activity at Cooper Companies

In other Cooper Companies news, CEO Albert G. White III sold 114,992 shares of Cooper Companies stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $110.53, for a total value of $12,710,065.76. Following the transaction, the chief executive officer now directly owns 165,273 shares of the company’s stock, valued at $18,267,624.69. The trade was a 41.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total value of $172,956.03. Following the completion of the sale, the chief accounting officer now directly owns 4,818 shares of the company’s stock, valued at $520,488.54. This represents a 24.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 256,373 shares of company stock worth $27,637,427. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. LRI Investments LLC raised its holdings in Cooper Companies by 4.5% in the 2nd quarter. LRI Investments LLC now owns 2,595 shares of the medical device company’s stock valued at $227,000 after acquiring an additional 112 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in shares of Cooper Companies by 1.5% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,986 shares of the medical device company’s stock valued at $881,000 after purchasing an additional 117 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Cooper Companies by 0.8% in the second quarter. Commonwealth Equity Services LLC now owns 15,600 shares of the medical device company’s stock worth $1,362,000 after purchasing an additional 118 shares during the period. Bleakley Financial Group LLC boosted its stake in Cooper Companies by 2.1% during the third quarter. Bleakley Financial Group LLC now owns 5,767 shares of the medical device company’s stock worth $636,000 after buying an additional 119 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Cooper Companies by 4.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,709 shares of the medical device company’s stock valued at $236,000 after buying an additional 125 shares during the period. 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.