The Cooper Cos. (COO) Hits New 52-Week High at $183.49
The Cooper Cos. (NYSE:COO) shares reached a new 52-week high on Friday . The company traded as high as $183.49 and last traded at $182.92, with a volume of 96,275 shares changing hands. The stock had previously closed at $180.94.
COO has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of The Cooper Cos. in a research note on Wednesday, July 13th. They issued a “buy” rating for the company. Stifel Nicolaus lifted their price objective on shares of The Cooper Cos. from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, June 30th. Cleveland Research upgraded shares of The Cooper Cos. from a “neutral” rating to a “buy” rating in a research note on Monday, May 16th. Wells Fargo & Co. reiterated a “hold” rating on shares of The Cooper Cos. in a research note on Friday, June 3rd. Finally, Jefferies Group upgraded shares of The Cooper Cos. from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Friday, April 15th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The Cooper Cos. currently has an average rating of “Buy” and an average price target of $167.00.
The company has a market capitalization of $8.84 billion and a P/E ratio of 43.17. The stock has a 50 day moving average price of $172.39 and a 200-day moving average price of $154.00.
The Cooper Cos. (NYSE:COO) last released its quarterly earnings results on Thursday, June 2nd. The medical device company reported $2.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.14. The business earned $484.80 million during the quarter. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.72 EPS. On average, analysts predict that The Cooper Cos. will post $8.40 earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Friday, August 5th. Shareholders of record on Friday, July 22nd will be given a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, July 20th. This represents a yield of 0.03%.
In other The Cooper Cos. news, CEO Robert S. Weiss sold 151,839 shares of the stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $163.02, for a total value of $24,752,793.78. Following the transaction, the chief executive officer now directly owns 200,617 shares in the company, valued at $32,704,583.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Kalkstein sold 1,000 shares of the stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $178.55, for a total transaction of $178,550.00. Following the completion of the transaction, the director now owns 14,215 shares in the company, valued at $2,538,088.25. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Andra AP fonden increased its position in The Cooper Cos. by 8.8% in the fourth quarter. Andra AP fonden now owns 9,900 shares of the medical device company’s stock valued at $1,329,000 after buying an additional 800 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of The Cooper Cos. by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,095 shares of the medical device company’s stock worth $1,892,000 after buying an additional 68 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of The Cooper Cos. by 3.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 14,531 shares of the medical device company’s stock worth $1,950,000 after buying an additional 500 shares during the period. State of Tennessee Treasury Department purchased a new stake in shares of The Cooper Cos. during the fourth quarter worth about $2,684,000. Finally, I.G. Investment Management LTD. boosted its stake in shares of The Cooper Cos. by 40.6% in the fourth quarter. I.G. Investment Management LTD. now owns 30,760 shares of the medical device company’s stock worth $4,128,000 after buying an additional 8,884 shares during the period.
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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