Brokers Issue Forecasts for The Cooper Cos.’s FY2016 Earnings (COO)
The Cooper Cos. (NYSE:COO) – Analysts at KeyCorp decreased their FY2016 EPS estimates for The Cooper Cos. in a research note issued to investors on Thursday. KeyCorp analyst M. Mishan now anticipates that the brokerage will earn $8.40 per share for the year, down from their previous forecast of $8.42. KeyCorp currently has a “Buy” rating and a $221.00 target price on the stock. KeyCorp also issued estimates for The Cooper Cos.’s Q4 2016 earnings at $2.23 EPS.
The Cooper Cos. (NYSE:COO) last issued its quarterly earnings results on Thursday, September 1st. The medical device company reported $2.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.01. The firm had revenue of $514.70 million for 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.97 earnings per share.
COO has been the subject of a number of other reports. Stifel Nicolaus reissued an “in-line” rating on shares of The Cooper Cos. in a research report on Friday, September 2nd. Zacks Investment Research raised shares of The Cooper Cos. from a “hold” rating to a “buy” rating and set a $198.00 price target for the company in a research report on Wednesday, October 5th. Piper Jaffray Cos. restated an “overweight” rating and issued a $185.00 price objective on shares of The Cooper Cos. in a research note on Tuesday, July 26th. BMO Capital Markets lifted their price objective on shares of The Cooper Cos. from $199.00 to $206.00 and gave the company an “outperform” rating in a research note on Friday, September 2nd. Finally, Wells Fargo & Co. restated a “hold” rating on shares of The Cooper Cos. in a research note on Sunday, September 11th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $187.80.
The Cooper Cos. (NYSE:COO) opened at 170.13 on Monday. The Cooper Cos. has a 52 week low of $119.28 and a 52 week high of $190.99. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 33.31 and a beta of 0.62. The company has a 50-day moving average of $178.35 and a 200-day moving average of $174.35.
In other The Cooper Cos. news, EVP Albert G. White III sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 41,639 shares of the company’s stock, valued at $7,733,195.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William A. Kozy purchased 270 shares of The Cooper Cos. stock in a transaction on Tuesday, September 6th. The stock was acquired at an average cost of $186.69 per share, for a total transaction of $50,406.30. Following the acquisition, the director now directly owns 770 shares of the company’s stock, valued at $143,751.30. The disclosure for this purchase can be found here. Company insiders own 2.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC increased its stake in shares of The Cooper Cos. by 14.8% in the second quarter. Fisher Asset Management LLC now owns 106,914 shares of the medical device company’s stock valued at $19,469,000 after buying an additional 13,800 shares during the period. Hermes Investment Management Ltd. acquired a new stake in shares of The Cooper Cos. during the second quarter valued at about $20,781,000. Envestnet Asset Management Inc. increased its stake in shares of The Cooper Cos. by 31.4% in the first quarter. Envestnet Asset Management Inc. now owns 14,177 shares of the medical device company’s stock valued at $2,183,000 after buying an additional 3,390 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of The Cooper Cos. during the first quarter valued at about $1,678,000. Finally, Commerce Bank increased its stake in shares of The Cooper Cos. by 4.2% in the second quarter. Commerce Bank now owns 137,961 shares of the medical device company’s stock valued at $23,670,000 after buying an additional 5,615 shares during the period. 96.63% of the stock is currently owned by institutional investors.
About The Cooper Cos.
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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