Cooper Companies (NASDAQ:COO) hits new 12-month high on earnings

Shares of The Cooper Companies, Inc. (NASDAQ:COO – Get Free Report ) hit a new 52-week high during mid-day trading on Thursday after a stronger-than-expected earnings report. The stock traded as high as $104.10 and last traded at $101.61, with a volume of 23676 shares changing hands. Shares previously closed at $94.54.

The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.05. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $997.30 million. In the same quarter last year, the company earned $0.84 per share. Cooper Companies’s quarterly revenue was up 7.8% on a year-over-year basis.

Analysts set new price targets

Several research firms have recently commented on COO. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research note on Thursday. Wells Fargo & Company boosted their price objective on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group raised shares of Cooper Companies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $107.00 to $115.00 in a note of research on Tuesday, July 16. Robert W. Baird boosted their price objective on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Piper Sandler upped their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $113.16, based on data from MarketBeat.

Read Cooper’s latest research report

Cooper Companies Institutional Trading

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in shares of Cooper Companies in the fourth quarter valued at $44,397,000. CWM LLC boosted its stake in Cooper Companies by 16.4% in the fourth quarter. CWM LLC now owns 781 shares of the medical device company’s stock worth $296,000 after purchasing an additional 110 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Cooper Companies by 16.5% in the fourth quarter. Victory Capital Management Inc. now owns 995,245 shares of the medical device company’s stock worth $376,641,000 after buying an additional 140,700 shares during the last quarter. Buckhead Capital Management LLC boosted its stake in shares of Cooper Companies by 4.8% in the fourth quarter. Buckhead Capital Management LLC now owns 10,930 shares of the medical device company’s stock worth $4,136,000 after buying an additional 502 shares during the last quarter. Finally, New York Life Investment Management LLC boosted its stake in shares of Cooper Companies by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 7,783 shares of the medical device company’s stock worth $2,945,000 after purchasing an additional 49 shares during the last quarter. 24.39% of the shares are held by hedge funds and other institutional investors.

Cooper Companies sales up 9.6%

The stock’s 50-day moving average price is $90.97 and its 200-day moving average price is $94.04. The company has a quick ratio of 1.14, a current ratio of 1.95, and a debt-to-equity ratio of 0.34. The stock has a market cap of $20.63 billion, a PE ratio of 55.61, a PEG ratio of 2.34 and a beta of 0.98.

About Cooper Companies

(Get a free report)

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

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