Cooper Companies, Inc. (The) (COO) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Cooper Companies, Inc. (The) (NYSE:COO) from a buy rating to a hold rating in a research note released on Monday.

According to Zacks, “The Cooper Companies had an impressive run on the bourse over the last six months. The company ended third-quarter fiscal 2017 on a solid note, beating the Zacks Consensus Estimate on both lines. The Cooper Companies has always seen impressive results at its CooperVision business segment. Notably, the segment banks on the platforms of MyDay, Clariti and Biofinity silicone hydrogel lenses. The CooperSurgical segment also delivered strong sales in the quarter. The company provided strong guidance for fiscal 2017. However, the dampening outlook for the CooperSurgical segment indicates looming concerns. Furthermore, intensifying competition in the contact lens space will continue to increase pricing pressure. Cooper Companies has completed the acquisition of Procornea in the recent past. This added a leading ortho-k technology to Cooper Company’s lens portfolio and marked its foray in the emerging myopia controlled markets.”

Several other equities analysts have also recently commented on the stock. Jefferies Group LLC reaffirmed a buy rating and set a $250.00 price objective on shares of Cooper Companies, Inc. (The) in a research note on Tuesday, September 12th. Stephens reissued an equal weight rating and issued a $250.00 price target (up previously from $235.00) on shares of Cooper Companies, Inc. (The) in a research note on Tuesday, September 12th. Oppenheimer Holdings, Inc. reissued a hold rating and issued a $250.00 price target on shares of Cooper Companies, Inc. (The) in a research note on Tuesday, September 12th. Robert W. Baird reissued a buy rating and issued a $273.00 price target (up previously from $267.00) on shares of Cooper Companies, Inc. (The) in a research note on Tuesday, September 12th. Finally, J P Morgan Chase & Co reissued a hold rating and issued a $235.00 price target on shares of Cooper Companies, Inc. (The) in a research note on Tuesday, September 12th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $257.60.

Shares of Cooper Companies, Inc. (COO) opened at 236.11 on Monday. Cooper Companies, Inc. has a 52-week low of $158.73 and a 52-week high of $256.39. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 33.86 and a beta of 0.59. The company’s 50 day moving average is $245.08 and its 200 day moving average is $225.59.

Cooper Companies, Inc. (The) (NYSE:COO) last issued its quarterly earnings data on Thursday, August 31st. The medical device company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.58 by $0.06. The company had revenue of $556.00 million during the quarter, compared to analysts’ expectations of $552.32 million. Cooper Companies, Inc. (The) had a net margin of 16.45% and a return on equity of 16.00%. Cooper Companies, Inc. (The)’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.30 earnings per share. Analysts anticipate that Cooper Companies, Inc. will post $9.72 earnings per share for the current year.

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In other news, CEO Paul L. Remmell sold 9,294 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $248.46, for a total value of $2,309,187.24. Following the sale, the chief executive officer now directly owns 6,186 shares of the company’s stock, valued at approximately $1,536,973.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Randal Golden sold 1,621 shares of the company’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $243.65, for a total transaction of $394,956.65. Following the completion of the sale, the vice president now directly owns 1,731 shares in the company, valued at $421,758.15. The disclosure for this sale can be found here. Insiders sold a total of 14,992 shares of company stock valued at $3,702,248 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its position in shares of Cooper Companies, Inc. (The) by 30.6% in the 2nd quarter. Advisory Services Network LLC now owns 457 shares of the medical device company’s stock worth $109,000 after buying an additional 107 shares during the period. YorkBridge Wealth Partners LLC grew its position in shares of Cooper Companies, Inc. (The) by 2.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 531 shares of the medical device company’s stock worth $126,000 after buying an additional 11 shares during the period. Archford Capital Strategies LLC grew its position in shares of Cooper Companies, Inc. (The) by 116.7% in the 1st quarter. Archford Capital Strategies LLC now owns 674 shares of the medical device company’s stock worth $135,000 after buying an additional 363 shares during the period. Acrospire Investment Management LLC grew its position in shares of Cooper Companies, Inc. (The) by 50.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 600 shares of the medical device company’s stock worth $144,000 after buying an additional 200 shares during the period. Finally, Penserra Capital Management LLC grew its position in shares of Cooper Companies, Inc. (The) by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 782 shares of the medical device company’s stock worth $156,000 after buying an additional 68 shares during the period. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

About Cooper Companies, Inc. (The)

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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