Cooper Companies (NYSE:COO) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Cooper Companies (NYSE:COO) released its quarterly earnings data on Thursday. The medical device company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.07, Briefing.com reports. The firm had revenue of $679.40 million for the quarter, compared to analysts’ expectations of $687.60 million. Cooper Companies had a net margin of 17.08% and a return on equity of 17.38%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 earnings per share.

Shares of COO opened at $309.75 on Friday. The company’s fifty day moving average is $332.30 and its 200 day moving average is $307.65. Cooper Companies has a fifty-two week low of $228.65 and a fifty-two week high of $344.32. The stock has a market capitalization of $16.26 billion, a PE ratio of 26.93, a P/E/G ratio of 2.49 and a beta of 0.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.68 and a current ratio of 1.21.

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, August 7th. Investors of record on Tuesday, July 23rd were given a $0.03 dividend. The ex-dividend date was Monday, July 22nd. Cooper Companies’s dividend payout ratio is presently 0.52%.

In related news, SVP Agostino Ricupati sold 5,532 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $326.67, for a total value of $1,807,138.44. Following the sale, the senior vice president now owns 742 shares in the company, valued at $242,389.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel G. Mcbride sold 11,981 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $315.99, for a total transaction of $3,785,876.19. Following the completion of the sale, the chief operating officer now owns 42,668 shares in the company, valued at approximately $13,482,661.32. The disclosure for this sale can be found here. Insiders sold 77,678 shares of company stock worth $25,063,536 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI boosted its stake in Cooper Companies by 74.3% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,523 shares of the medical device company’s stock worth $1,187,000 after buying an additional 1,502 shares during the period. Swiss National Bank boosted its stake in Cooper Companies by 2.7% during the first quarter. Swiss National Bank now owns 214,000 shares of the medical device company’s stock worth $63,380,000 after buying an additional 5,700 shares during the period. Wealthfront Advisers LLC boosted its stake in Cooper Companies by 31.2% during the first quarter. Wealthfront Advisers LLC now owns 1,536 shares of the medical device company’s stock worth $455,000 after buying an additional 365 shares during the period. Signaturefd LLC boosted its stake in Cooper Companies by 3.8% during the second quarter. Signaturefd LLC now owns 875 shares of the medical device company’s stock worth $295,000 after buying an additional 32 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in Cooper Companies by 1.1% during the second quarter. State Board of Administration of Florida Retirement System now owns 73,079 shares of the medical device company’s stock worth $24,620,000 after buying an additional 767 shares during the period. 96.59% of the stock is owned by institutional investors.

COO has been the topic of several recent analyst reports. Northcoast Research reiterated a “buy” rating and set a $340.00 price objective (up previously from $331.00) on shares of Cooper Companies in a research report on Monday, June 3rd. Piper Jaffray Companies lifted their price objective on shares of Cooper Companies from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Wells Fargo & Co lifted their price objective on shares of Cooper Companies from $356.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. KeyCorp lifted their price objective on shares of Cooper Companies from $314.00 to $351.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Zacks Investment Research upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $326.27.

About Cooper Companies

The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.

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Earnings History for Cooper Companies (NYSE:COO)

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