Cooper Companies (NYSE:COO) Sets New 12-Month High on Analyst Upgrade
Cooper Companies Inc (NYSE:COO) shares reached a new 52-week high on Tuesday after Piper Jaffray Companies raised their price target on the stock from $330.00 to $360.00. Piper Jaffray Companies currently has an overweight rating on the stock. Cooper Companies traded as high as $344.20 and last traded at $341.07, with a volume of 2658 shares trading hands. The stock had previously closed at $333.05.
Several other equities research analysts have also recently weighed in on COO. Northcoast Research restated a “buy” rating and issued a $340.00 price objective (up previously from $331.00) on shares of Cooper Companies in a research report on Monday, June 3rd. Raymond James raised their price objective on shares of Cooper Companies from $325.00 to $364.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research report on Friday, June 7th. Finally, Wells Fargo & Co raised their price objective on shares of Cooper Companies from $356.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $322.91.
In other news, Director Michael Kalkstein sold 3,500 shares of Cooper Companies stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $316.28, for a total transaction of $1,106,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Agostino Ricupati sold 5,532 shares of Cooper Companies stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $326.67, for a total transaction of $1,807,138.44. Following the sale, the senior vice president now owns 742 shares of the company’s stock, valued at approximately $242,389.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,678 shares of company stock valued at $25,063,536. 1.70% of the stock is owned by corporate insiders.
The stock has a 50 day moving average of $333.68. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 29.69, a P/E/G ratio of 2.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.68 and a current ratio of 1.21.
Cooper Companies (NYSE:COO) last released its quarterly earnings data on Thursday, May 30th. The medical device company reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.18. Cooper Companies had a net margin of 16.46% and a return on equity of 17.25%. The business had revenue of $654.30 million for the quarter, compared to analyst estimates of $655.00 million. During the same quarter last year, the firm earned $2.86 EPS. Cooper Companies’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Cooper Companies Inc will post 12.27 EPS for the current fiscal year.
The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, August 7th. Investors of record on Tuesday, July 23rd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, July 22nd. Cooper Companies’s payout ratio is 0.52%.
Cooper Companies Company Profile (NYSE:COO)
The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.
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