Cooper Companies (NASDAQ:COO) Sees Large Volume Increase – Time to Buy?

Shares of The Cooper Companies, Inc. (NASDAQ:COO) saw strong trading volume on Tuesday . 1,230,359 shares were traded during trading, an increase of 11% from the previous session’s volume of 1,104,666 shares.The stock last traded at $106.04 and had previously closed at $106.72.

Analyst Ratings Changes

A number of brokerages have issued reports on COO. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Morgan Stanley lifted their price objective on Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Piper Sandler boosted their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird upped their price target on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.00.

Cooper Companies Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The business’s 50-day moving average is $104.60 and its two-hundred day moving average is $96.47. The firm has a market cap of $21.02 billion, a P/E ratio of 62.38, a P/E/G ratio of 2.56 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last released its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.30 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. Cooper Companies’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts predict that The Cooper Companies, Inc. will post 3.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Cooper Companies

In related news, CAO Agostino Ricupati sold 1,601 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total value of $172,956.03. Following the completion of the sale, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Albert G. White III sold 114,992 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the transaction, the chief executive officer now owns 165,273 shares in the company, valued at approximately $18,267,624.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Agostino Ricupati sold 1,601 shares of Cooper Companies stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the completion of the transaction, the chief accounting officer now directly owns 4,818 shares in the company, valued at $520,488.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 256,373 shares of company stock worth $27,637,427 over the last quarter. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Cooper Companies

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Cooper Companies by 34.8% during the fourth quarter. Wellington Management Group LLP now owns 8,189 shares of the medical device company’s stock worth $3,099,000 after buying an additional 2,116 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Cooper Companies in the first quarter valued at about $41,000. Ballentine Partners LLC lifted its stake in shares of Cooper Companies by 303.1% in the first quarter. Ballentine Partners LLC now owns 6,800 shares of the medical device company’s stock worth $690,000 after acquiring an additional 5,113 shares during the period. Janiczek Wealth Management LLC boosted its holdings in Cooper Companies by 300.0% in the first quarter. Janiczek Wealth Management LLC now owns 692 shares of the medical device company’s stock valued at $70,000 after acquiring an additional 519 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Cooper Companies by 319.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,613 shares of the medical device company’s stock valued at $671,000 after acquiring an additional 5,036 shares during the last quarter. 24.39% of the stock is currently owned by institutional investors.

About Cooper Companies

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 provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.