Morgan Stanley Boosts Cooper Companies (NASDAQ:COO) Price Target to $104.00

Cooper Companies (NASDAQ:COO) had its price objective lifted by stock analysts at Morgan Stanley from $95.00 to $104.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the medical device company’s stock. Morgan Stanley’s price target suggests a potential downside of 3.73% from the company’s previous close.

Several other brokerages also recently commented on COO. Robert W. Baird upped their price objective on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler increased their price target on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Wells Fargo & Company increased their price target on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group raised shares of Cooper Companies from a “hold” rating to a “buy” rating and increased their price target for the stock from $107.00 to $115.00 in a research note on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Cooper Companies Stock Performance

Shares of NASDAQ:COO opened at $108.03 on Tuesday. The company has a market cap of $21.51 billion, a price-to-earnings ratio of 63.55, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98. The company has a 50-day moving average price of $93.74 and a 200-day moving average price of $94.69. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Cooper Companies has a 12 month low of $75.93 and a 12 month high of $108.68.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.91 by $0.05. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.30 million. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. As a group, equities analysts anticipate that Cooper Companies will post 3.66 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the sale, the chief financial officer now owns 6,614 shares in the company, valued at $700,422.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the sale, the chief financial officer now owns 6,614 shares in the company, valued at $700,422.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the sale, the chief operating officer now owns 44,696 shares in the company, valued at approximately $4,714,534.08. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new position in Cooper Companies during the second quarter valued at approximately $3,043,000. Cetera Investment Advisers lifted its position in Cooper Companies by 6.3% during the second quarter. Cetera Investment Advisers now owns 22,244 shares of the medical device company’s stock valued at $1,942,000 after purchasing an additional 1,309 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Cooper Companies by 113.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 2,529 shares of the medical device company’s stock valued at $221,000 after purchasing an additional 1,342 shares during the period. Quarry LP raised its position in Cooper Companies by 1,225.9% in the second quarter. Quarry LP now owns 2,718 shares of the medical device company’s stock worth $237,000 after acquiring an additional 2,513 shares during the period. Finally, Wallace Advisory Group LLC bought a new position in Cooper Companies in the second quarter worth approximately $290,000. Institutional investors own 24.39% of the company’s stock.

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.