Zacks Investment Research Downgrades The Cooper Cos. (COO) to Hold
The Cooper Cos. (NYSE:COO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “The Cooper Companies recently joined the S&P 500 Global Industry Classification Standard (GICS) Health Care Supplies Sub-Industry index, a major development in our view. The company 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. 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 for the current year.”
Several other analysts have also recently commented on the stock. KeyCorp set a $221.00 target price on shares of The Cooper Cos. and gave the stock a “buy” rating in a research note on Saturday, October 1st. Wells Fargo & Co. reaffirmed a “hold” rating on shares of The Cooper Cos. in a research note on Sunday, September 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $215.00 target price on shares of The Cooper Cos. in a research note on Friday, September 9th. BMO Capital Markets lifted their target price 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. Finally, Jefferies Group lifted their target price on shares of The Cooper Cos. from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, August 24th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $187.80.
The Cooper Cos. (NYSE:COO) traded up 1.41% during trading on Monday, reaching $174.42. The company had a trading volume of 355,171 shares. The stock has a 50 day moving average price of $177.62 and a 200-day moving average price of $174.94. The company has a market capitalization of $8.50 billion, a PE ratio of 34.15 and a beta of 0.62. The Cooper Cos. has a 52-week low of $119.28 and a 52-week high of $190.99.
The Cooper Cos. (NYSE:COO) last released its earnings results on Thursday, September 1st. The medical device company reported $2.30 EPS for the quarter, topping 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 firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.97 earnings per share. On average, equities research analysts anticipate that The Cooper Cos. will post $8.43 earnings per share for the current fiscal year.
In related news, EVP Albert G. White III sold 20,000 shares of The Cooper Cos. stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $185.72, for a total transaction of $3,714,400.00. Following the transaction, the executive vice president now owns 41,639 shares in the company, valued at approximately $7,733,195.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William A. Kozy bought 270 shares of The Cooper Cos. stock in a transaction that occurred on Tuesday, September 6th. The shares were acquired at an average price of $186.69 per share, for a total transaction of $50,406.30. Following the acquisition, the director now directly owns 770 shares in the company, valued at approximately $143,751.30. The disclosure for this purchase can be found here. Corporate insiders own 2.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of COO. Penserra Capital Management LLC raised its position in The Cooper Cos. by 100.0% in the third quarter. Penserra Capital Management LLC now owns 576 shares of the medical device company’s stock valued at $103,000 after buying an additional 288 shares during the last quarter. Global X Management Co. LLC raised its position in The Cooper Cos. by 88.1% in the third quarter. Global X Management Co. LLC now owns 583 shares of the medical device company’s stock valued at $105,000 after buying an additional 273 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position 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 valued at $115,000 after buying an additional 319 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in The Cooper Cos. during the first quarter valued at $113,000. Finally, Robecosam AG acquired a new position in The Cooper Cos. during the second quarter valued at $136,000. Institutional investors and hedge funds own 94.19% of the company’s stock.
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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