Cooper Companies (NASDAQ:COO) Shares Down 4.7% – Here’s What Happened

The Cooper Companies, Inc. (NASDAQ:COO) dropped 4.7% on Friday . The company traded as low as $89.04 and last traded at $89.26. Approximately 547,169 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 1,227,139 shares. The stock had previously closed at $93.68.

Analyst Ratings Changes

Several brokerages have commented on COO. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research note on Friday, December 6th. Morgan Stanley dropped their price objective on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. StockNews.com lowered Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup reduced their price target on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91. The stock has a market cap of $17.62 billion, a P/E ratio of 45.31, a P/E/G ratio of 2.41 and a beta of 1.00. The business’s 50-day moving average price is $94.15 and its 200-day moving average price is $99.76.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. Cooper Companies’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 earnings per share. As a group, sell-side analysts expect that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Institutional Trading of Cooper Companies

A number of hedge funds and other institutional investors have recently modified their holdings of COO. Fulton Bank N.A. raised its stake in Cooper Companies by 3.0% during the 4th quarter. Fulton Bank N.A. now owns 3,718 shares of the medical device company’s stock valued at $342,000 after purchasing an additional 109 shares during the period. Mitchell & Pahl Private Wealth LLC raised its position in shares of Cooper Companies by 1.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,986 shares of the medical device company’s stock valued at $881,000 after buying an additional 117 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Cooper Companies by 2.1% during the third quarter. Bleakley Financial Group LLC now owns 5,767 shares of the medical device company’s stock valued at $636,000 after buying an additional 119 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Cooper Companies by 35.5% in the fourth quarter. Covestor Ltd now owns 458 shares of the medical device company’s stock worth $42,000 after buying an additional 120 shares in the last quarter. Finally, Torray Investment Partners LLC boosted its position in shares of Cooper Companies by 0.8% during the fourth quarter. Torray Investment Partners LLC now owns 16,190 shares of the medical device company’s stock worth $1,488,000 after acquiring an additional 132 shares during the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

Cooper Companies Company Profile

The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.