Cooper Companies (NYSE:COO) Given New $356.00 Price Target at Wells Fargo & Co

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Cooper Companies (NYSE:COO) had its target price hoisted by research analysts at Wells Fargo & Co from $325.00 to $356.00 in a report released on Monday, The Fly reports. The brokerage currently has an “outperform” rating on the medical device company’s stock. Wells Fargo & Co‘s price target indicates a potential upside of 9.85% from the company’s current price.

Several other research firms have also weighed in on COO. Piper Jaffray Companies restated an “overweight” rating and set a $325.00 price objective on shares of Cooper Companies in a research report on Wednesday, March 6th. Zacks Investment Research upgraded shares of Cooper Companies from a “sell” rating to a “hold” rating and set a $301.00 price objective for the company in a research report on Wednesday, May 29th. Jefferies Financial Group raised their price objective on shares of Cooper Companies to $330.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. KeyCorp raised their price objective on shares of Cooper Companies from $296.00 to $314.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Raymond James raised their price objective on shares of Cooper Companies from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $315.36.

Cooper Companies stock opened at $324.09 on Monday. The stock has a market cap of $15.93 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.45 and a beta of 0.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.68 and a current ratio of 1.21. Cooper Companies has a 52 week low of $221.65 and a 52 week high of $325.88.

Cooper Companies (NYSE:COO) last released its earnings results on Thursday, May 30th. The medical device company reported $2.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $0.18. The firm had revenue of $654.30 million for the quarter, compared to analysts’ expectations of $655.00 million. Cooper Companies had a net margin of 16.46% and a return on equity of 17.25%. Cooper Companies’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $2.86 EPS. As a group, research analysts forecast that Cooper Companies will post 12.24 earnings per share for the current year.

In other news, SVP Agostino Ricupati sold 2,400 shares of the firm’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $296.13, for a total transaction of $710,712.00. Following the completion of the transaction, the senior vice president now owns 400 shares in the company, valued at approximately $118,452. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brian G. Andrews sold 1,648 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $293.28, for a total transaction of $483,325.44. Following the transaction, the chief financial officer now owns 1,101 shares of the company’s stock, valued at approximately $322,901.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,700 shares of company stock valued at $29,246,558. Insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in COO. Certified Advisory Corp acquired a new position in shares of Cooper Companies in the fourth quarter worth about $25,000. Executive Wealth Management LLC acquired a new position in shares of Cooper Companies in the fourth quarter worth about $34,000. Financial Gravity Companies Inc. acquired a new position in shares of Cooper Companies in the fourth quarter worth about $46,000. Quadrant Capital Group LLC boosted its holdings in shares of Cooper Companies by 827.8% in the first quarter. Quadrant Capital Group LLC now owns 167 shares of the medical device company’s stock worth $47,000 after buying an additional 149 shares during the period. Finally, Zions Bancorporation N.A. acquired a new position in shares of Cooper Companies in the first quarter worth about $53,000. Institutional investors own 95.98% of the company’s stock.

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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