Cooper Companies Inc (NYSE:COO) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,150,000 shares, a drop of 9.4% from the January 15th total of 1,270,000 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average trading volume of 285,200 shares, the days-to-cover ratio is currently 4.0 days.
COO has been the subject of a number of recent research reports. Wells Fargo & Co increased their target price on Cooper Companies from $360.00 to $388.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. KeyCorp increased their target price on Cooper Companies from $351.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Piper Jaffray Companies reissued a “buy” rating and issued a $344.00 target price on shares of Cooper Companies in a report on Friday, December 6th. Jefferies Financial Group dropped their target price on Cooper Companies from $358.00 to $330.00 and set an “in-line” rating for the company in a report on Wednesday, December 4th. Finally, Northcoast Research reissued a “buy” rating on shares of Cooper Companies in a report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $344.70.
In other Cooper Companies news, Director Jody S. Lindell sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $321.01, for a total value of $1,123,535.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Kalkstein sold 9,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $320.35, for a total value of $3,043,325.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in COO. Savior LLC acquired a new stake in Cooper Companies during the 4th quarter valued at $30,000. Evolution Wealth Advisors LLC increased its holdings in Cooper Companies by 1,125.0% during the 4th quarter. Evolution Wealth Advisors LLC now owns 98 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 90 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in Cooper Companies by 100.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 156 shares of the medical device company’s stock valued at $46,000 after purchasing an additional 78 shares in the last quarter. CSat Investment Advisory L.P. increased its holdings in Cooper Companies by 18.5% during the 4th quarter. CSat Investment Advisory L.P. now owns 211 shares of the medical device company’s stock valued at $68,000 after purchasing an additional 33 shares in the last quarter. Finally, CFM Wealth Partners LLC acquired a new stake in Cooper Companies during the 4th quarter valued at $74,000. 96.30% of the stock is owned by hedge funds and other institutional investors.
Shares of COO traded up $0.34 during mid-day trading on Friday, reaching $353.31. The company had a trading volume of 195,721 shares, compared to its average volume of 284,985. Cooper Companies has a twelve month low of $274.77 and a twelve month high of $365.68. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.05 and a quick ratio of 0.59. The company’s 50-day moving average is $342.09 and its 200-day moving average is $316.79. The company has a market capitalization of $17.47 billion, a P/E ratio of 37.83, a P/E/G ratio of 2.54 and a beta of 0.89.
Cooper Companies (NYSE:COO) last issued its earnings results on Thursday, December 5th. The medical device company reported $3.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.03. Cooper Companies had a return on equity of 17.38% and a net margin of 17.59%. The business had revenue of $691.60 million during the quarter, compared to analysts’ expectations of $683.83 million. During the same period in the prior year, the firm posted $2.87 EPS. Cooper Companies’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts expect that Cooper Companies will post 12.8 EPS for the current fiscal year.
The firm also recently declared a semi-annual dividend, which was paid on Monday, February 10th. Investors of record on Thursday, January 23rd were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, January 22nd. Cooper Companies’s dividend payout ratio is 0.49%.
About Cooper Companies
The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.
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