Cooper Companies (NYSE:COO) Price Target Raised to $360.00
Cooper Companies (NYSE:COO) had its target price increased by equities researchers at Piper Jaffray Companies from $330.00 to $360.00 in a research note issued on Tuesday, The Fly reports. The brokerage presently has an “overweight” rating on the medical device company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 8.19% from the company’s current price.
Other analysts also recently issued reports about the stock. Raymond James raised their price objective on shares of Cooper Companies from $325.00 to $364.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Wells Fargo & Co raised their price objective on shares of Cooper Companies from $356.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Northcoast Research restated a “buy” rating and set a $340.00 price objective (up from $331.00) on shares of Cooper Companies in a research report on Monday, June 3rd. Finally, Zacks Investment Research upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $322.91.
Shares of COO stock opened at $332.74 on Tuesday. The company has a market cap of $16.48 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 2.52 and a beta of 0.90. Cooper Companies has a one year low of $228.65 and a one year high of $344.32. The company’s fifty day moving average price is $334.02. The company has a quick ratio of 0.68, a current ratio of 1.21 and a debt-to-equity ratio of 0.42.
In related news, Director Jody S. Lindell sold 3,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $328.29, for a total transaction of $984,870.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Daniel G. Mcbride sold 11,981 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $315.99, for a total transaction of $3,785,876.19. Following the transaction, the chief operating officer now directly owns 42,668 shares of the company’s stock, valued at $13,482,661.32. The disclosure for this sale can be found here. Insiders have sold 77,678 shares of company stock valued at $25,063,536 over the last ninety days. 1.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of COO. Veritas Asset Management LLP grew its stake in Cooper Companies by 77.8% during the first quarter. Veritas Asset Management LLP now owns 981,302 shares of the medical device company’s stock valued at $290,632,000 after acquiring an additional 429,340 shares in the last quarter. Swedbank purchased a new position in shares of Cooper Companies in the 2nd quarter worth $100,362,000. Prudential Financial Inc. grew its stake in shares of Cooper Companies by 330.9% in the 2nd quarter. Prudential Financial Inc. now owns 297,402 shares of the medical device company’s stock worth $100,192,000 after buying an additional 228,380 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Cooper Companies by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,566,546 shares of the medical device company’s stock worth $1,875,314,000 after buying an additional 227,435 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its stake in shares of Cooper Companies by 115.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 420,179 shares of the medical device company’s stock worth $141,554,000 after buying an additional 224,844 shares in the last quarter. 96.10% of the stock is owned by institutional investors.
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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