Cooper Companies (NASDAQ:COO) Hits New 52-Week Low on Analyst Downgrade

The Cooper Companies, Inc. (NASDAQ:COO)’s share price reached a new 52-week low during trading on Friday after Robert W. Baird lowered their price target on the stock from $117.00 to $107.00. Robert W. Baird currently has an outperform rating on the stock. Cooper Companies traded as low as $82.61 and last traded at $85.12, with a volume of 517147 shares. The stock had previously closed at $90.98.

Several other brokerages have also commented on COO. Citigroup dropped their price target on shares of Cooper Companies from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research note on Friday. Morgan Stanley reduced their price objective on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. StockNews.com cut shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company increased their price objective on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $114.67.

Hedge Funds Weigh In On Cooper Companies

Several large investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new stake in shares of Cooper Companies in the 3rd quarter worth approximately $25,000. Covestor Ltd raised its position in Cooper Companies by 144.9% in the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Byrne Asset Management LLC bought a new position in Cooper Companies during the fourth quarter worth about $33,000. OFI Invest Asset Management acquired a new position in shares of Cooper Companies in the 4th quarter worth approximately $34,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Cooper Companies during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Trading Down 7.5 %

The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $92.56 and a 200 day moving average of $99.51. The firm has a market cap of $16.80 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $964.70 million for the quarter, compared to analyst estimates of $981.25 million. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. As a group, research analysts anticipate that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

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.