Cooper Companies (NASDAQ:COO) Sees Unusually-High Trading Volume

The Cooper Companies, Inc. (NASDAQ:COO) shares saw unusually-high trading volume on Monday . Approximately 683,684 shares changed hands during trading, a decline of 38% from the previous session’s volume of 1,107,556 shares.The stock last traded at $92.48 and had previously closed at $93.13.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COO. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a report on Friday, May 31st. Piper Sandler restated an “overweight” rating and set a $115.00 price target on shares of Cooper Companies in a research note on Wednesday, July 3rd. Robert W. Baird lifted their price objective on Cooper Companies from $116.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Finally, Jefferies Financial Group upgraded Cooper Companies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $107.00 to $115.00 in a report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cooper Companies has a consensus rating of “Moderate Buy” and an average target price of $111.78.

Cooper Companies Stock Performance

The stock has a 50-day moving average price of $90.90 and a 200 day moving average price of $94.02. The company has a quick ratio of 1.14, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $18.32 billion, a price-to-earnings ratio of 54.11, a P/E/G ratio of 2.34 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Thursday, May 30th. The medical device company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $942.60 million during the quarter, compared to analysts’ expectations of $948.07 million. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. On average, analysts forecast that The Cooper Companies, Inc. will post 3.57 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lipe & Dalton grew its position in shares of Cooper Companies by 0.9% in the 4th quarter. Lipe & Dalton now owns 3,360 shares of the medical device company’s stock valued at $1,272,000 after buying an additional 30 shares during the last quarter. WD Rutherford LLC grew its holdings in shares of Cooper Companies by 0.4% during the fourth quarter. WD Rutherford LLC now owns 9,126 shares of the medical device company’s stock worth $3,541,000 after purchasing an additional 33 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Cooper Companies by 1.2% during the fourth quarter. Franklin Resources Inc. now owns 3,401 shares of the medical device company’s stock worth $1,287,000 after purchasing an additional 41 shares in the last quarter. KLR Investment Advisors LLC increased its position in shares of Cooper Companies by 4.3% during the fourth quarter. KLR Investment Advisors LLC now owns 1,117 shares of the medical device company’s stock worth $423,000 after purchasing an additional 46 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. lifted its holdings in shares of Cooper Companies by 44.8% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 152 shares of the medical device company’s stock valued at $58,000 after purchasing an additional 47 shares during the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

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.