Cooper Companies (NASDAQ:COO) Stock Price Down 4.7% – Here’s Why

The Cooper Companies, Inc. (NASDAQ:COO) shares traded down 4.7% during mid-day trading on Friday . The stock traded as low as $89.04 and last traded at $89.26. 547,169 shares traded hands during trading, a decline of 55% from the average session volume of 1,227,139 shares. The stock had previously closed at $93.68.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on COO shares. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research report on Friday, December 6th. StockNews.com cut Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Citigroup cut their target price on Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, December 6th. Finally, Morgan Stanley lowered their price target on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Trading Down 6.0 %

The business’s 50-day simple moving average is $93.94 and its two-hundred day simple moving average is $99.78. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 45.18, a PEG ratio of 2.41 and a beta of 1.00.

Cooper Companies (NASDAQ:COO) last announced its earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company earned $0.87 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Hedge Funds Weigh In On Cooper Companies

Several institutional investors have recently bought and sold shares of COO. Ashton Thomas Securities LLC purchased a new position in shares of Cooper Companies in the third quarter valued at approximately $25,000. Byrne Asset Management LLC acquired a new position in shares of Cooper Companies in the fourth quarter worth $33,000. OFI Invest Asset Management purchased a new stake in shares of Cooper Companies during the fourth quarter worth $34,000. Covestor Ltd increased its position in shares of Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after acquiring an additional 200 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in Cooper Companies in the fourth quarter valued at $38,000. 24.39% of the stock is owned by institutional investors and hedge funds.

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.