Cooper Companies (NASDAQ:COO) Announces Quarterly Earnings Results

Cooper Companies (NASDAQ:COO) released its earnings results on Thursday. The medical device company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04, Zacks reports. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. Cooper Companies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Cooper Companies updated its FY25 guidance to $3.92-$4.02 EPS.

Cooper Companies Stock Down 1.7 %

Shares of COO stock traded down $1.75 during trading on Thursday, hitting $103.23. 1,842,913 shares of the company were exchanged, compared to its average volume of 1,140,510. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99. The firm has a market capitalization of $20.56 billion, a price-to-earnings ratio of 57.81, a P/E/G ratio of 2.24 and a beta of 0.97. The business’s 50-day simple moving average is $104.84 and its 200 day simple moving average is $98.74. Cooper Companies has a twelve month low of $82.69 and a twelve month high of $112.38.

Analyst Ratings Changes

COO has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research note on Wednesday, November 27th. Robert W. Baird raised their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler raised their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Morgan Stanley raised their price objective on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $117.00.

Insider Buying and Selling

In other news, 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 value of $172,956.03. Following the transaction, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at $520,488.54. This trade represents a 24.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Albert G. White III sold 114,992 shares of Cooper Companies stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the completion of the transaction, the chief executive officer now directly owns 165,273 shares in the company, valued at approximately $18,267,624.69. This represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Cooper Companies Company Profile

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.