Wells Fargo & Co Lowers Cooper Companies (NYSE:COO) Price Target to $329.00

Cooper Companies (NYSE:COO) had its price target lowered by investment analysts at Wells Fargo & Co from $388.00 to $329.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the medical device company’s stock. Wells Fargo & Co‘s price target indicates a potential upside of 14.47% from the company’s previous close.

A number of other research analysts also recently commented on COO. Piper Sandler increased their target price on shares of Cooper Companies from $344.00 to $351.00 in a research report on Friday, March 6th. Jefferies Financial Group dropped their target price on shares of Cooper Companies from $360.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Citigroup dropped their target price on shares of Cooper Companies from $360.00 to $318.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. Stifel Nicolaus increased their target price on shares of Cooper Companies from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Finally, KeyCorp raised their price objective on shares of Cooper Companies from $351.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $339.50.

Shares of Cooper Companies stock traded down $0.38 during mid-day trading on Thursday, hitting $287.42. The stock had a trading volume of 298,356 shares, compared to its average volume of 303,698. The firm has a 50-day moving average of $294.82 and a two-hundred day moving average of $313.43. Cooper Companies has a 12-month low of $236.68 and a 12-month high of $365.68. The company has a quick ratio of 0.58, a current ratio of 1.08 and a debt-to-equity ratio of 0.33. The firm has a market cap of $15.35 billion, a P/E ratio of 31.66, a price-to-earnings-growth ratio of 2.19 and a beta of 0.90.

Cooper Companies (NYSE:COO) last announced its quarterly earnings data on Thursday, March 5th. The medical device company reported $2.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.71 by ($0.02). The firm had revenue of $646.20 million during the quarter, compared to analyst estimates of $648.04 million. Cooper Companies had a net margin of 16.99% and a return on equity of 16.74%. Cooper Companies’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 earnings per share. Sell-side analysts expect that Cooper Companies will post 11.96 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Squar Milner Financial Services LLC boosted its holdings in shares of Cooper Companies by 225.0% in the fourth quarter. Squar Milner Financial Services LLC now owns 273 shares of the medical device company’s stock valued at $87,000 after acquiring an additional 189 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Cooper Companies in the fourth quarter valued at about $448,000. Savior LLC purchased a new stake in shares of Cooper Companies in the fourth quarter valued at about $30,000. Ballentine Partners LLC purchased a new stake in shares of Cooper Companies in the fourth quarter valued at about $200,000. Finally, Sumitomo Life Insurance Co. boosted its holdings in shares of Cooper Companies by 6.8% in the fourth quarter. Sumitomo Life Insurance Co. now owns 4,621 shares of the medical device company’s stock valued at $1,485,000 after acquiring an additional 294 shares in the last quarter. 88.92% of the stock is currently owned by institutional investors.

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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