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

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

Several other analysts also recently commented on the company. Stifel Nicolaus restated a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price target on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird lifted their price target on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Jefferies Financial Group upgraded Cooper Companies from a “hold” rating to a “buy” rating and lifted their price target for the company from $107.00 to $115.00 in a research note on Tuesday, July 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Cooper Companies has an average rating of “Moderate Buy” and an average target price of $115.00.

Cooper Companies Stock Performance

Shares of Cooper Companies stock opened at $108.03 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $93.74 and a two-hundred day moving average price of $94.69. Cooper Companies has a 1-year low of $75.93 and a 1-year high of $108.68. The company has a market cap of $21.51 billion, a P/E ratio of 63.55, a PEG ratio of 2.55 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last issued its earnings results 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 company had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.84 EPS. As a group, analysts anticipate that Cooper Companies will post 3.66 EPS for the current year.

Insider Activity at Cooper Companies

In related news, COO Daniel G. Mcbride sold 114,992 shares of Cooper Companies stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total value of $12,129,356.16. Following the completion of the transaction, the chief operating officer now directly owns 44,696 shares in the company, valued at approximately $4,714,534.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Daniel G. Mcbride sold 114,992 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 44,696 shares in the company, valued at approximately $4,714,534.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian G. Andrews sold 24,788 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 6,614 shares of the company’s stock, valued at $700,422.60. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. grew its position in Cooper Companies by 248.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the medical device company’s stock worth $25,000 after acquiring an additional 174 shares in the last quarter. Innealta Capital LLC bought a new stake in Cooper Companies in the second quarter worth $25,000. Covestor Ltd lifted its stake in Cooper Companies by 305.9% in the first quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock worth $28,000 after purchasing an additional 208 shares during the last quarter. Crewe Advisors LLC lifted its stake in Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after purchasing an additional 252 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Cooper Companies by 358.6% in the first quarter. Global Retirement Partners LLC now owns 321 shares of the medical device company’s stock worth $33,000 after purchasing an additional 251 shares during the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

About Cooper Companies

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.