The Cooper Cos. (COO) Lifted to “Buy” at Zacks Investment Research
The Cooper Cos. (NYSE:COO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $198.00 price objective on the medical device company’s stock. Zacks Investment Research’s price objective suggests a potential upside of 11.94% from the stock’s current price.
According to Zacks, “The Cooper Companies is expected to maintain a leading position in the markets of specialty lenses with its highly exclusive products of Bioinfinity, Clarity and silicone hydrogel lenses. The company's growing presence in the women's healthcare market through accretive acquisitions is also a significant positive in our view. Moreover, the company recently joined the S&P 500 universe under the Global Industry Classification Standard (GICS) Health Care Supplies Sub-Industry index, which is a major development. In fact, inorganic expansion has also been a key catalyst for The Cooper Companies with the acquisitions of Genesis and Recombine earlier this year. Meanwhile, the company is gaining prominence with the current estimate trends as most of the analysts raised their estimates upward in the last two months.”
Several other equities research analysts have also issued reports on COO. BMO Capital Markets raised their price target on shares of The Cooper Cos. from $199.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, September 2nd. KeyCorp set a $221.00 price target on shares of The Cooper Cos. and gave the stock a “buy” rating in a research note on Saturday. Stifel Nicolaus restated a “buy” rating and set a $215.00 price target on shares of The Cooper Cos. in a research note on Friday, September 9th. Piper Jaffray Cos. restated an “overweight” rating and set a $185.00 price target on shares of The Cooper Cos. in a research note on Tuesday, July 26th. Finally, Robert W. Baird restated an “outperform” rating and set a $185.00 price target on shares of The Cooper Cos. in a research note on Saturday, June 25th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The Cooper Cos. has an average rating of “Buy” and a consensus target price of $187.40.
Shares of The Cooper Cos. (NYSE:COO) traded down 0.24% on Wednesday, reaching $176.46. 167,358 shares of the company’s stock traded hands. The Cooper Cos. has a one year low of $119.28 and a one year high of $190.99. The company’s 50-day moving average price is $183.89 and its 200 day moving average price is $170.03. The firm has a market cap of $8.60 billion, a P/E ratio of 34.55 and a beta of 0.29.
The Cooper Cos. (NYSE:COO) last posted its quarterly earnings data on Thursday, September 1st. The medical device company reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.01. The firm earned $514.70 million during the quarter. The Cooper Cos. had a net margin of 13.14% and a return on equity of 14.89%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $1.97 EPS. On average, equities analysts forecast that The Cooper Cos. will post $8.43 EPS for the current fiscal year.
In other The Cooper Cos. news, EVP Albert G. White III sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $185.72, for a total value of $3,714,400.00. Following the completion of the transaction, the executive vice president now directly owns 41,639 shares of the company’s stock, valued at approximately $7,733,195.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Kalkstein sold 1,000 shares of the firm’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $178.55, for a total transaction of $178,550.00. Following the completion of the transaction, the director now directly owns 14,215 shares of the company’s stock, valued at $2,538,088.25. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlueMountain Capital Management LLC bought a new stake in The Cooper Cos. during the first quarter worth about $113,000. Mizuho Asset Management Co. Ltd. increased its stake in The Cooper Cos. by 90.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 672 shares of the medical device company’s stock worth $115,000 after buying an additional 319 shares in the last quarter. Robecosam AG bought a new stake in The Cooper Cos. during the second quarter worth about $136,000. Pacer Advisors Inc. increased its stake in The Cooper Cos. by 9.3% in the second quarter. Pacer Advisors Inc. now owns 821 shares of the medical device company’s stock worth $141,000 after buying an additional 70 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new stake in The Cooper Cos. during the first quarter worth about $203,000. 98.67% of the stock is owned by hedge funds and other institutional investors.
The Cooper Cos. Company Profile
The Cooper Companies, Inc (Cooper) is a medical device company. The Company operates through two business units: CooperVision, Inc (CooperVision) and CooperSurgical, Inc (CooperSurgical). CooperVision develops, manufactures and markets a range of soft contact lenses for the vision correction market. CooperVision offers Biofinity monthly spherical, toric and multifocal lenses under the Avaira brand.
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