Brokerages Anticipate Cooper Companies Inc (COO) Will Post Quarterly Sales of $654.41 Million

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Brokerages expect that Cooper Companies Inc (NYSE:COO) will post sales of $654.41 million for the current quarter, according to Zacks. Ten analysts have made estimates for Cooper Companies’ earnings, with estimates ranging from $648.00 million to $662.00 million. Cooper Companies posted sales of $556.00 million during the same quarter last year, which suggests a positive year over year growth rate of 17.7%. The business is expected to issue its next quarterly earnings results on Thursday, August 30th.

On average, analysts expect that Cooper Companies will report full-year sales of $2.53 billion for the current year, with estimates ranging from $2.52 billion to $2.54 billion. For the next financial year, analysts forecast that the business will post sales of $2.69 billion per share, with estimates ranging from $2.66 billion to $2.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Cooper Companies.

Cooper Companies (NYSE:COO) last released its quarterly earnings data on Thursday, June 7th. The medical device company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.02. The business had revenue of $631.30 million for the quarter, compared to analyst estimates of $627.49 million. Cooper Companies had a return on equity of 17.14% and a net margin of 5.58%. Cooper Companies’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the firm posted $2.50 earnings per share.

Several analysts recently weighed in on the company. Raymond James reduced their price objective on Cooper Companies from $275.00 to $270.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 5th. TheStreet raised Cooper Companies from a “c+” rating to a “b-” rating in a research note on Friday, June 15th. ValuEngine raised Cooper Companies from a “sell” rating to a “hold” rating in a research note on Friday, June 15th. Oppenheimer set a $265.00 price target on Cooper Companies and gave the company a “hold” rating in a research note on Friday, June 8th. Finally, Zacks Investment Research raised Cooper Companies from a “hold” rating to a “buy” rating and set a $265.00 price target on the stock in a research note on Tuesday, May 22nd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $265.36.

In other news, Director Michael Kalkstein sold 1,715 shares of the firm’s stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $221.66, for a total transaction of $380,146.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan E. Rubenstein sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $235.13, for a total value of $235,130.00. Following the transaction, the director now owns 4,568 shares of the company’s stock, valued at $1,074,073.84. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of COO. Point72 Asset Management L.P. bought a new position in shares of Cooper Companies during the first quarter worth about $52,195,000. Renaissance Technologies LLC raised its position in shares of Cooper Companies by 103.9% during the fourth quarter. Renaissance Technologies LLC now owns 422,848 shares of the medical device company’s stock worth $92,130,000 after acquiring an additional 215,448 shares during the last quarter. Millennium Management LLC raised its position in shares of Cooper Companies by 110.9% during the fourth quarter. Millennium Management LLC now owns 391,217 shares of the medical device company’s stock worth $85,238,000 after acquiring an additional 205,755 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Cooper Companies during the first quarter worth about $37,336,000. Finally, FIL Ltd raised its position in shares of Cooper Companies by 54.7% during the first quarter. FIL Ltd now owns 419,791 shares of the medical device company’s stock worth $96,053,000 after acquiring an additional 148,477 shares during the last quarter. Institutional investors own 96.83% of the company’s stock.

NYSE:COO traded up $3.25 during trading hours on Monday, hitting $237.23. The company’s stock had a trading volume of 983,665 shares, compared to its average volume of 534,647. The firm has a market capitalization of $11.49 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.84 and a beta of 0.61. The company has a quick ratio of 1.67, a current ratio of 2.76 and a debt-to-equity ratio of 0.77. Cooper Companies has a twelve month low of $216.47 and a twelve month high of $260.26.

Cooper Companies Company Profile

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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Earnings History and Estimates for Cooper Companies (NYSE:COO)

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