Cooper Companies (COO) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Cooper Companies (NYSE:COO) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

According to Zacks, “Year-to-date Cooper Companies had an impressive run on the bourse. The company has always witnessed impressive results at CooperSurgical business segment. The CooperVision segment also delivered strong sales. The segment continues to gain from the company’s silicone hydrogel lenses led by solid prospects in the MyDay, Clariti and Biofinity platforms. The company provided strong guidance for fiscal 2018. Notably, Cooper Companies has signed an asset-purchase agreement to acquire the flagship contraception platform of Israel-based Teva Pharmaceutical Industries — PARAGARD Intrauterine Device. On the flipside, intense competition in the contact lens space will continue to increase pricing pressure for the company. Added to this, escalating debt levels and foreign exchange vulnerability are likely to mar the company’s bottom line.”

Several other equities research analysts have also commented on COO. Oppenheimer set a $250.00 price objective on shares of Cooper Companies and gave the stock a hold rating in a research report on Friday, December 8th. Stifel Nicolaus reiterated a buy rating and issued a $265.00 price objective (down from $275.00) on shares of Cooper Companies in a research report on Friday, December 8th. Raymond James Financial reiterated a buy rating and issued a $265.00 price objective on shares of Cooper Companies in a research report on Monday, December 4th. KeyCorp reiterated a hold rating on shares of Cooper Companies in a research report on Friday, October 20th. Finally, Robert W. Baird set a $273.00 price objective on shares of Cooper Companies and gave the stock a buy rating in a research report on Monday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Cooper Companies currently has an average rating of Buy and an average target price of $259.70.

Shares of Cooper Companies (NYSE:COO) traded up $2.60 during midday trading on Monday, hitting $234.25. 481,891 shares of the company’s stock traded hands, compared to its average volume of 531,683. The stock has a market cap of $11,450.00, a price-to-earnings ratio of 31.15, a P/E/G ratio of 1.86 and a beta of 0.54. Cooper Companies has a 52 week low of $175.73 and a 52 week high of $256.39. The company has a quick ratio of 1.26, a current ratio of 2.41 and a debt-to-equity ratio of 0.36.

Cooper Companies (NYSE:COO) last issued its earnings results on Thursday, December 7th. The medical device company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.64 by $0.01. The company had revenue of $561.50 million for the quarter, compared to analyst estimates of $558.86 million. Cooper Companies had a net margin of 17.43% and a return on equity of 16.02%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 EPS. equities research analysts forecast that Cooper Companies will post 11.51 earnings per share for the current year.

The firm also recently disclosed a semiannual dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 23rd will be given a $0.03 dividend. The ex-dividend date of this dividend is Monday, January 22nd. This represents a dividend yield of 0.03%. Cooper Companies’s dividend payout ratio is presently 0.80%.

In related news, Director Gary S. Petersmeyer sold 785 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $229.06, for a total value of $179,812.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert S. Weiss sold 32,500 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $224.70, for a total transaction of $7,302,750.00. Following the completion of the transaction, the chief executive officer now directly owns 119,111 shares of the company’s stock, valued at approximately $26,764,241.70. The disclosure for this sale can be found here. Insiders sold a total of 47,935 shares of company stock worth $10,813,768 over the last quarter. Insiders own 1.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Cooper Companies by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,938,181 shares of the medical device company’s stock valued at $1,182,298,000 after purchasing an additional 156,449 shares during the last quarter. BlackRock Inc. raised its stake in Cooper Companies by 4.5% in the 2nd quarter. BlackRock Inc. now owns 3,210,032 shares of the medical device company’s stock valued at $768,546,000 after purchasing an additional 138,395 shares during the last quarter. Janus Henderson Group PLC raised its stake in Cooper Companies by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,185,268 shares of the medical device company’s stock valued at $518,147,000 after purchasing an additional 9,477 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Cooper Companies by 2.2% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,252,938 shares of the medical device company’s stock valued at $297,084,000 after purchasing an additional 26,688 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Cooper Companies by 47.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 636,882 shares of the medical device company’s stock valued at $151,011,000 after purchasing an additional 206,003 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

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Cooper Companies Company Profile

The Cooper Companies, Inc is a global medical device company. The Company operates through two business units: CooperVision, Inc and CooperSurgical, Inc CooperVision offers soft contact lenses for the vision correction market. CooperVision develops, manufactures and markets a range of single-use, two-week and monthly contact lenses.

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