The Cooper Companies, Inc. (NYSE:COO – Get Rating) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,150,000 shares, a drop of 10.9% from the August 31st total of 1,290,000 shares. Based on an average daily volume of 301,000 shares, the days-to-cover ratio is currently 3.8 days. Currently, 2.3% of the shares of the stock are short sold.
Cooper Companies Price Performance
Shares of Cooper Companies stock opened at $263.90 on Friday. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 1.92 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.71 and a current ratio of 1.16. The stock has a 50 day moving average price of $306.42 and a 200-day moving average price of $337.70. Cooper Companies has a one year low of $262.91 and a one year high of $435.79.
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Cooper Companies (NYSE:COO – Get Rating) last announced its earnings results on Wednesday, August 31st. The medical device company reported $3.19 EPS for the quarter, missing analysts' consensus estimates of $3.20 by ($0.01). Cooper Companies had a return on equity of 9.22% and a net margin of 13.38%. The company had revenue of $843.40 million during the quarter, compared to analysts' expectations of $830.22 million. During the same quarter last year, the firm posted $3.41 EPS. Cooper Companies's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts expect that Cooper Companies will post 12.78 EPS for the current year.
Cooper Companies Dividend Announcement
The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, August 11th. Investors of record on Wednesday, July 27th were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, July 26th. Cooper Companies's payout ratio is currently 0.69%.
Hedge Funds Weigh In On Cooper Companies
Large investors have recently bought and sold shares of the business. Boston Trust Walden Corp boosted its holdings in Cooper Companies by 8.4% during the 1st quarter. Boston Trust Walden Corp now owns 217,000 shares of the medical device company's stock valued at $90,617,000 after acquiring an additional 16,864 shares during the period. CENTRAL TRUST Co boosted its holdings in Cooper Companies by 7.7% during the 1st quarter. CENTRAL TRUST Co now owns 604 shares of the medical device company's stock valued at $252,000 after acquiring an additional 43 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Cooper Companies by 10.5% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,455 shares of the medical device company's stock valued at $608,000 after acquiring an additional 138 shares during the period. Public Employees Retirement System of Ohio raised its position in Cooper Companies by 1.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 34,999 shares of the medical device company's stock valued at $14,662,000 after purchasing an additional 452 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new stake in Cooper Companies during the 4th quarter valued at $419,000. Hedge funds and other institutional investors own 97.09% of the company's stock.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Stephens decreased their target price on Cooper Companies from $500.00 to $460.00 and set an "overweight" rating on the stock in a research note on Friday, June 3rd. Piper Sandler cut their price target on Cooper Companies from $425.00 to $375.00 and set an "overweight" rating for the company in a report on Friday, July 8th. KeyCorp cut their price target on Cooper Companies from $414.00 to $408.00 and set an "overweight" rating for the company in a report on Friday, June 3rd. Wells Fargo & Company cut their price target on Cooper Companies from $370.00 to $365.00 and set an "overweight" rating for the company in a report on Thursday, September 1st. Finally, TheStreet cut Cooper Companies from a "b-" rating to a "c+" rating in a report on Monday, July 18th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $406.00.
Cooper Companies Company Profile
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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 offers spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, myopia, ocular dryness and eye fatigues in the Americas, Europe, Middle East, Africa, and Asia Pacific.
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