Cooper Companies, Inc. (The) (NYSE:COO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “The Cooper Companies outperformed the broader industry in terms of price performance over the past six months. The Cooper Companies have always had an impressive show from its CooperSurgical business segment. The CooperVision segment also delivered strong sales in the last quarter, buoyed by robust performance by Toric. However, the company generates a significant part of its revenues in foreign currencies. Thus, the ongoing unfavorable currency translation is expected to negatively impact the company’s top-line growth in 2017. Furthermore, intensifying competition in the contact lens will continue to increase pricing pressure for the company. Also, the stocks overvaluation reflects a relatively dull scenario that might be a cause for investors’ concern.The Cooper Companies ended third-quarter fiscal 2017 on a solid note, beating the Zacks Consensus Estimates on both lines.”

Several other research firms also recently weighed in on COO. KeyCorp reiterated a “sector weight” rating on shares of Cooper Companies, Inc. (The) in a research note on Friday, July 21st. Piper Jaffray Companies lifted their target price on shares of Cooper Companies, Inc. (The) to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Cooper Companies, Inc. (The) from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Cleveland Research reiterated a “buy” rating on shares of Cooper Companies, Inc. (The) in a research note on Tuesday, August 22nd. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $255.00 target price on shares of Cooper Companies, Inc. (The) in a research note on Thursday, July 13th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $247.67.

Cooper Companies, Inc. (NYSE:COO) traded down 0.08% during mid-day trading on Wednesday, reaching $239.71. 195,312 shares of the company’s stock were exchanged. Cooper Companies, Inc. has a 52-week low of $158.73 and a 52-week high of $256.39. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 35.94 and a beta of 0.59. The company has a 50-day moving average of $245.97 and a 200-day moving average of $222.25.

Cooper Companies, Inc. (The) (NYSE:COO) last posted its earnings results on Thursday, August 31st. The medical device company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.06. The firm had revenue of $556 million during the quarter, compared to the consensus estimate of $552.32 million. Cooper Companies, Inc. (The) had a net margin of 16.45% and a return on equity of 16.00%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $2.30 earnings per share. Equities research analysts anticipate that Cooper Companies, Inc. will post $9.70 earnings per share for the current year.

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In other news, CEO Paul L. Remmell sold 9,294 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $248.46, for a total value of $2,309,187.24. Following the completion of the transaction, the chief executive officer now directly owns 6,186 shares in the company, valued at $1,536,973.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Randal Golden sold 1,621 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $243.65, for a total transaction of $394,956.65. Following the completion of the transaction, the vice president now owns 1,731 shares of the company’s stock, valued at $421,758.15. The disclosure for this sale can be found here. Insiders sold 66,515 shares of company stock valued at $16,202,051 over the last 90 days. 1.60% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in COO. BlackRock Inc. boosted its position in shares of Cooper Companies, Inc. (The) by 2,849.1% in the first quarter. BlackRock Inc. now owns 3,071,637 shares of the medical device company’s stock valued at $613,991,000 after acquiring an additional 2,967,481 shares during the period. Janus Henderson Group PLC boosted its position in shares of Cooper Companies, Inc. (The) by 558.5% in the second quarter. Janus Henderson Group PLC now owns 2,175,791 shares of the medical device company’s stock valued at $520,937,000 after acquiring an additional 1,845,368 shares during the period. Pioneer Investment Management Inc. boosted its position in shares of Cooper Companies, Inc. (The) by 136.6% in the second quarter. Pioneer Investment Management Inc. now owns 1,226,250 shares of the medical device company’s stock valued at $293,589,000 after acquiring an additional 708,028 shares during the period. Janus Capital Management LLC boosted its position in shares of Cooper Companies, Inc. (The) by 35.7% in the first quarter. Janus Capital Management LLC now owns 1,743,182 shares of the medical device company’s stock valued at $348,441,000 after acquiring an additional 458,173 shares during the period. Finally, Koch Industries Inc. bought a new position in shares of Cooper Companies, Inc. (The) in the second quarter valued at approximately $312,000. Institutional investors own 96.10% of the company’s stock.

Cooper Companies, Inc. (The) Company Profile

The Cooper Companies, Inc is a global medical device company. The Company operates through two business units: CooperVision, Inc and CooperSurgical, Inc CooperVision offers soft contact lenses for the vision correction market. CooperVision develops, manufactures and markets a range of single-use, two-week and monthly contact lenses.

Analyst Recommendations for Cooper Companies, Inc. (The) (NYSE:COO)

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