Cooper Companies (NYSE:COO – Get Rating) issued its earnings results on Thursday. The medical device company reported $3.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.19), MarketWatch Earnings reports. The firm had revenue of $829.80 million during the quarter, compared to the consensus estimate of $821.03 million. Cooper Companies had a net margin of 31.00% and a return on equity of 9.89%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.38 earnings per share. Cooper Companies updated its FY 2022 guidance to $13.09-$13.29 EPS and its FY22 guidance to $13.09-13.29 EPS.
Cooper Companies stock traded up $9.60 during midday trading on Thursday, hitting $352.81. 378,622 shares of the company’s stock were exchanged, compared to its average volume of 338,769. Cooper Companies has a 52-week low of $309.43 and a 52-week high of $463.59. The stock has a 50-day moving average price of $374.45 and a two-hundred day moving average price of $392.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.02. The company has a market cap of $17.39 billion, a P/E ratio of 18.35, a PEG ratio of 2.31 and a beta of 0.90.
In other news, SVP Agostino Ricupati sold 5,607 shares of the company’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $421.51, for a total value of $2,363,406.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary S. Petersmeyer sold 300 shares of the company’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $410.55, for a total value of $123,165.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,646 shares of company stock valued at $8,195,614. 1.70% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in COO. EverSource Wealth Advisors LLC bought a new position in Cooper Companies during the 4th quarter valued at approximately $365,000. MML Investors Services LLC raised its position in Cooper Companies by 3.8% during the 4th quarter. MML Investors Services LLC now owns 1,998 shares of the medical device company’s stock valued at $837,000 after purchasing an additional 74 shares during the last quarter. Sei Investments Co. raised its position in Cooper Companies by 48.2% during the 4th quarter. Sei Investments Co. now owns 43,678 shares of the medical device company’s stock valued at $18,237,000 after purchasing an additional 14,215 shares during the last quarter. NEXT Financial Group Inc raised its position in Cooper Companies by 70.5% during the 4th quarter. NEXT Financial Group Inc now owns 960 shares of the medical device company’s stock valued at $402,000 after purchasing an additional 397 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in Cooper Companies by 7.4% during the 4th quarter. Glenmede Trust Co. NA now owns 736 shares of the medical device company’s stock valued at $308,000 after purchasing an additional 51 shares during the last quarter. 98.38% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on COO shares. Stephens boosted their target price on Cooper Companies from $430.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, March 7th. Wells Fargo & Company reduced their price target on Cooper Companies from $495.00 to $380.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Needham & Company LLC began coverage on Cooper Companies in a research report on Friday, April 8th. They issued a “hold” rating for the company. Robert W. Baird reduced their price target on Cooper Companies from $437.00 to $392.00 in a research report on Thursday, May 26th. Finally, Piper Sandler reduced their price target on Cooper Companies from $500.00 to $430.00 and set an “overweight” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Cooper Companies has a consensus rating of “Buy” and an average target price of $440.67.
About Cooper Companies (Get Rating)
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 offers spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, myopia, ocular dryness and eye fatigues in the Americas, Europe, Middle East, Africa, and Asia Pacific.
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