Cooper Companies (NASDAQ:COO) Posts Earnings Results, Beats Estimates By $0.04 EPS

Cooper Companies (NASDAQ:COO) announced its quarterly earnings results on Thursday. The medical device company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04, Zacks reports. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. Cooper Companies updated its FY25 guidance to $3.92-$4.02 EPS.

Cooper Companies Price Performance

Shares of COO stock traded down $1.75 during trading hours on Thursday, hitting $103.23. 1,842,913 shares of the company’s stock were exchanged, compared to its average volume of 1,140,510. The company has a market capitalization of $20.56 billion, a PE ratio of 57.81, a PEG ratio of 2.24 and a beta of 0.97. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Cooper Companies has a 12-month low of $82.69 and a 12-month high of $112.38. The business’s 50 day simple moving average is $104.84 and its 200-day simple moving average is $98.74.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on COO shares. Morgan Stanley increased their price target on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Robert W. Baird boosted their target price on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research note on Wednesday, November 27th. Piper Sandler lifted their price target on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $115.00 price objective (up from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Insider Activity

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

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.