The Cooper Cos. (COO) Lifted to “Buy” at Zacks Investment Research
The Cooper Cos. (NYSE:COO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $198.00 price objective on the medical device company’s stock. Zacks Investment Research’s target price indicates a potential upside of 11.94% from the company’s current price.
According to Zacks, “The Cooper Companies is expected to maintain a leading position in the markets of specialty lenses with its highly exclusive products of Bioinfinity, Clarity and silicone hydrogel lenses. The company's growing presence in the women's healthcare market through accretive acquisitions is also a significant positive in our view. Moreover, the company recently joined the S&P 500 universe under the Global Industry Classification Standard (GICS) Health Care Supplies Sub-Industry index, which is a major development. In fact, inorganic expansion has also been a key catalyst for The Cooper Companies with the acquisitions of Genesis and Recombine earlier this year. Meanwhile, the company is gaining prominence with the current estimate trends as most of the analysts raised their estimates upward in the last two months.”
Several other brokerages have also commented on COO. Jefferies Group boosted their price target on shares of The Cooper Cos. from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, August 24th. Stifel Nicolaus upped their target price on shares of The Cooper Cos. from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, June 30th. Robert W. Baird upped their target price on shares of The Cooper Cos. from $185.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. JPMorgan Chase & Co. assumed coverage on shares of The Cooper Cos. in a report on Wednesday, July 13th. They set a “buy” rating for the company. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of The Cooper Cos. in a report on Sunday, September 11th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $187.40.
The Cooper Cos. (NYSE:COO) traded down 0.24% during trading on Wednesday, reaching $176.46. 167,358 shares of the company’s stock traded hands. The company has a 50-day moving average price of $183.89 and a 200 day moving average price of $170.03. The Cooper Cos. has a one year low of $119.28 and a one year high of $190.99. The firm has a market capitalization of $8.60 billion, a PE ratio of 34.55 and a beta of 0.29.
The Cooper Cos. (NYSE:COO) last issued its quarterly earnings results on Thursday, September 1st. The medical device company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.29 by $0.01. The company earned $514.70 million during the quarter. The Cooper Cos. had a net margin of 13.14% and a return on equity of 14.89%. The Cooper Cos.’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.97 EPS. On average, analysts anticipate that The Cooper Cos. will post $8.43 earnings per share for the current fiscal year.
In other The Cooper Cos. news, EVP Albert G. White III sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $185.72, for a total value of $3,714,400.00. Following the transaction, the executive vice president now owns 41,639 shares of the company’s stock, valued at $7,733,195.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William A. Kozy bought 270 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was bought at an average cost of $186.69 per share, for a total transaction of $50,406.30. Following the transaction, the director now directly owns 770 shares of the company’s stock, valued at $143,751.30. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of COO. Private Trust Co. NA boosted its position in The Cooper Cos. by 1.1% in the second quarter. Private Trust Co. NA now owns 2,898 shares of the medical device company’s stock worth $497,000 after buying an additional 32 shares during the last quarter. Calvert Investment Management Inc. raised its stake in shares of The Cooper Cos. by 1.4% in the second quarter. Calvert Investment Management Inc. now owns 2,945 shares of the medical device company’s stock worth $505,000 after buying an additional 41 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of The Cooper Cos. by 1.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,331 shares of the medical device company’s stock worth $571,000 after buying an additional 49 shares during the period. Profit Investment Management LLC raised its stake in shares of The Cooper Cos. by 1.5% in the second quarter. Profit Investment Management LLC now owns 3,291 shares of the medical device company’s stock worth $565,000 after buying an additional 50 shares during the period. Finally, Legacy Private Trust Co. raised its stake in shares of The Cooper Cos. by 2.1% in the second quarter. Legacy Private Trust Co. now owns 3,365 shares of the medical device company’s stock worth $577,000 after buying an additional 70 shares during the period. 98.67% of the stock is currently owned by institutional investors.
About The Cooper Cos.
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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