The Cooper Cos. (COO) Reaches New 52-Week High at $184.48
The Cooper Cos. (NYSE:COO) hit a new 52-week high on Monday . The company traded as high as $184.48 and last traded at $184.12, with a volume of 98,788 shares. The stock had previously closed at $183.86.
A number of research firms recently commented on COO. Jefferies Group lifted their target price on The Cooper Cos. to $210.00 in a report on Wednesday. Zacks Investment Research downgraded The Cooper Cos. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Robert W. Baird lifted their target price on The Cooper Cos. from $185.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $185.00 target price on shares of The Cooper Cos. in a report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. began coverage on The Cooper Cos. in a report on Wednesday, July 13th. They set a “buy” rating for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $170.10.
The firm has a market capitalization of $9.00 billion and a price-to-earnings ratio of 43.95. The firm has a 50-day moving average of $180.38 and a 200 day moving average of $161.33.
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 consensus estimate of $1.91 by $0.14. During the same period last year, the firm earned $1.72 earnings per share. The company had revenue of $484.80 million for the quarter. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts anticipate that The Cooper Cos. will post $8.42 earnings per share for the current year.
The firm also recently disclosed a semiannual dividend, which was paid on Friday, August 5th. Stockholders of record on Friday, July 22nd were given a $0.03 dividend. This represents a dividend yield of 0.03%. The ex-dividend date was Wednesday, July 20th.
In other news, Director Michael Kalkstein sold 1,000 shares of The Cooper Cos. stock in a transaction on Friday, July 8th. The stock was sold at an average price of $178.55, for a total value of $178,550.00. Following the completion of the sale, the director now owns 14,215 shares of the company’s stock, valued at $2,538,088.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Daniel G. Mcbride sold 10,000 shares of The Cooper Cos. stock in a transaction on Monday, June 27th. The shares were sold at an average price of $164.43, for a total value of $1,644,300.00. Following the completion of the sale, the chief operating officer now directly owns 33,644 shares of the company’s stock, valued at approximately $5,532,082.92. The disclosure for this sale can be found here.
Other large investors have made changes to their positions in the company. Schroder Investment Management Group increased its stake in shares of The Cooper Cos. by 13.1% in the fourth quarter. Schroder Investment Management Group now owns 307,100 shares of the medical device company’s stock worth $41,213,000 after buying an additional 35,600 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of The Cooper Cos. by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 154,051 shares of the medical device company’s stock worth $20,674,000 after buying an additional 4,043 shares in the last quarter. Finally, I.G. Investment Management LTD. increased 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 in the last quarter.
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.