Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Declines By 16.5%

The Cooper Companies, Inc. (NASDAQ:COOGet Free Report) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 2,480,000 shares, a decrease of 16.5% from the February 29th total of 2,970,000 shares. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is presently 2.3 days.

Insiders Place Their Bets

In other Cooper Companies news, Director Gary S. Petersmeyer sold 600 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $84.01, for a total value of $50,404.50. Following the completion of the sale, the director now directly owns 9,188 shares of the company’s stock, valued at approximately $771,860.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cooper Companies news, CAO Agostino Ricupati sold 54,724 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $100.89, for a total value of $5,521,104.36. Following the transaction, the chief accounting officer now directly owns 5,081 shares in the company, valued at $512,622.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary S. Petersmeyer sold 600 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $84.01, for a total transaction of $50,404.50. Following the completion of the transaction, the director now owns 9,188 shares in the company, valued at $771,860.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,324 shares of company stock valued at $5,675,019. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Cooper Companies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its position in Cooper Companies by 102,613.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,385,611 shares of the medical device company’s stock worth $458,180,000 after buying an additional 1,384,262 shares during the last quarter. Norges Bank purchased a new stake in Cooper Companies in the fourth quarter worth approximately $196,045,000. BlackRock Inc. boosted its stake in Cooper Companies by 10.9% in the first quarter. BlackRock Inc. now owns 4,225,167 shares of the medical device company’s stock worth $1,577,508,000 after buying an additional 416,807 shares in the last quarter. Veritas Asset Management LLP boosted its stake in Cooper Companies by 9.1% in the second quarter. Veritas Asset Management LLP now owns 2,278,069 shares of the medical device company’s stock worth $873,480,000 after buying an additional 189,308 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Cooper Companies in the first quarter worth approximately $59,500,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Price Performance

Cooper Companies stock traded down $0.38 during midday trading on Friday, reaching $101.46. 887,890 shares of the stock were exchanged, compared to its average volume of 1,231,321. The company’s fifty day moving average is $97.44 and its 200-day moving average is $89.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.86. The firm has a market cap of $20.17 billion, a PE ratio of 69.37, a PEG ratio of 2.57 and a beta of 0.93. Cooper Companies has a 52 week low of $75.93 and a 52 week high of $104.07.

Cooper Companies (NASDAQ:COOGet Free Report) last posted its earnings results on Thursday, February 29th. The medical device company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. The business had revenue of $931.60 million for the quarter, compared to analyst estimates of $915.93 million. Cooper Companies had a net margin of 7.93% and a return on equity of 8.79%. Cooper Companies’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.90 EPS. On average, sell-side analysts forecast that Cooper Companies will post 3.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COO. Morgan Stanley dropped their target price on shares of Cooper Companies from $102.50 to $88.75 and set an “equal weight” rating on the stock in a research note on Monday, December 4th. KeyCorp began coverage on shares of Cooper Companies in a research note on Tuesday, February 6th. They set a “sector weight” rating on the stock. JPMorgan Chase & Co. upgraded shares of Cooper Companies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $100.00 to $120.00 in a research note on Wednesday, March 13th. Stifel Nicolaus restated a “buy” rating and set a $110.00 price target (up from $105.00) on shares of Cooper Companies in a research note on Friday, March 1st. Finally, Redburn Atlantic upgraded shares of Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $108.38.

Read Our Latest Research Report on Cooper Companies

About Cooper Companies

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Cooper Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Companies and related companies with MarketBeat.com's FREE daily email newsletter.