Cooper Companies (NASDAQ:COO) Downgraded to Neutral Rating by Rothschild & Co Redburn

Rothschild & Co Redburn lowered shares of Cooper Companies (NASDAQ:COO) from a buy rating to a neutral rating in a report issued on Wednesday morning, MarketBeat reports. They currently have $85.00 target price on the medical device company’s stock.

Several other equities analysts have also recently weighed in on the stock. Wall Street Zen raised shares of Cooper Companies from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Needham & Company LLC decreased their price objective on shares of Cooper Companies from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Tuesday, February 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 target price (up from $83.00) on shares of Cooper Companies in a report on Friday, December 5th. Citigroup reiterated a “neutral” rating and issued a $88.00 target price (up from $72.00) on shares of Cooper Companies in a research note on Monday, December 8th. Finally, Robert W. Baird boosted their price target on Cooper Companies from $85.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.36.

Cooper Companies Price Performance

NASDAQ:COO opened at $81.98 on Wednesday. Cooper Companies has a 52-week low of $61.78 and a 52-week high of $91.60. The company has a market cap of $16.00 billion, a P/E ratio of 43.61, a P/E/G ratio of 2.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 1.89. The stock’s 50-day simple moving average is $82.28 and its 200 day simple moving average is $75.92.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Thursday, December 4th. The medical device company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.04. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. Cooper Companies had a return on equity of 10.02% and a net margin of 9.16%.The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. As a group, sell-side analysts forecast that Cooper Companies will post 3.98 EPS for the current fiscal year.

Insider Activity

In other Cooper Companies news, Director Maria Rivas purchased 1,000 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average cost of $82.13 per share, with a total value of $82,130.00. Following the completion of the transaction, the director owned 11,141 shares in the company, valued at $915,010.33. The trade was a 9.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence Erik Kurzius acquired 2,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was acquired at an average price of $82.50 per share, with a total value of $165,000.00. Following the purchase, the director directly owned 7,777 shares in the company, valued at approximately $641,602.50. This represents a 34.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 16,014 shares of company stock worth $1,304,416. Corporate insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Cooper Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. River Road Asset Management LLC grew its position in Cooper Companies by 1.0% during the fourth quarter. River Road Asset Management LLC now owns 1,582,867 shares of the medical device company’s stock worth $129,732,000 after buying an additional 16,103 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of Cooper Companies during the 4th quarter worth $216,000. Axxcess Wealth Management LLC increased its position in shares of Cooper Companies by 37.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 9,980 shares of the medical device company’s stock worth $818,000 after purchasing an additional 2,698 shares during the period. Corient Private Wealth LLC raised its stake in Cooper Companies by 17.0% in the fourth quarter. Corient Private Wealth LLC now owns 25,699 shares of the medical device company’s stock valued at $2,106,000 after purchasing an additional 3,738 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Cooper Companies during the fourth quarter worth about $1,582,000. 24.39% of the stock is currently owned by institutional investors and hedge funds.

About Cooper Companies

Cooper Companies, Inc (NASDAQ: COO) is a global medical device company headquartered in San Ramon, California. Founded in 1958, the company has grown through strategic acquisitions and organic development to become a major provider of vision care and women’s health products. Cooper Companies operates through two primary business segments—CooperVision and CooperSurgical—each serving specialized markets within the healthcare industry.

The CooperVision segment develops, manufactures and markets a broad range of soft contact lenses, as well as related accessories.