Needham & Company LLC Upgrades Cooper Companies (NASDAQ:COO) to “Buy”

Cooper Companies (NASDAQ:COO) was upgraded by equities research analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $94.00 target price on the medical device company’s stock. Needham & Company LLC’s price target points to a potential upside of 34.65% from the stock’s previous close.

Other analysts also recently issued reports about the company. Robert W. Baird decreased their price target on Cooper Companies from $107.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, May 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $76.00 price target (down from $110.00) on shares of Cooper Companies in a report on Friday, May 30th. BNP Paribas upgraded Cooper Companies to a “hold” rating in a report on Thursday, March 13th. Citigroup reduced their target price on Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Finally, Wells Fargo & Company reduced their target price on Cooper Companies from $118.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, May 30th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.70.

Cooper Companies Stock Up 1.5%

Shares of COO opened at $69.81 on Tuesday. Cooper Companies has a 52 week low of $65.00 and a 52 week high of $112.38. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 1.68 and a beta of 0.98. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.23 and a current ratio of 2.10. The stock has a fifty day moving average of $77.55 and a 200-day moving average of $85.66.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $995.12 million. Cooper Companies had a return on equity of 9.60% and a net margin of 10.39%. Cooper Companies’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, sell-side analysts anticipate that Cooper Companies will post 3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cooper Companies

Large investors have recently modified their holdings of the stock. Zions Bancorporation National Association UT purchased a new position in Cooper Companies in the 1st quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new position in Cooper Companies in the 4th quarter valued at approximately $34,000. City Holding Co. purchased a new position in Cooper Companies in the 1st quarter valued at approximately $34,000. New Age Alpha Advisors LLC purchased a new position in Cooper Companies in the 4th quarter valued at approximately $38,000. Finally, GKV Capital Management Co. Inc. purchased a new position in Cooper Companies in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

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.