Cooper Companies (NYSE:COO) posted its quarterly earnings results on Thursday. The medical device company reported $2.87 EPS for the quarter, missing the Zacks’ consensus estimate of $2.96 by ($0.09), Briefing.com reports. The company had revenue of $651.50 million during the quarter, compared to the consensus estimate of $645.25 million. Cooper Companies had a return on equity of 17.86% and a net margin of 5.52%. Cooper Companies’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.65 earnings per share. Cooper Companies updated its FY 2019 guidance to $11.30-11.70 EPS and its FY19 guidance to $11.30-11.70 EPS.
NYSE:COO opened at $243.01 on Friday. The firm has a market cap of $13.61 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 2.13 and a beta of 0.77. Cooper Companies has a 52-week low of $216.47 and a 52-week high of $283.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.58 and a quick ratio of 1.54.
In other Cooper Companies news, Director Allan E. Rubenstein sold 1,500 shares of Cooper Companies stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $265.37, for a total transaction of $398,055.00. Following the completion of the sale, the director now owns 3,068 shares of the company’s stock, valued at $814,155.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Daniel G. Mcbride sold 10,310 shares of Cooper Companies stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $264.44, for a total value of $2,726,376.40. Following the sale, the chief operating officer now directly owns 38,705 shares of the company’s stock, valued at approximately $10,235,150.20. The disclosure for this sale can be found here. Insiders have sold 20,691 shares of company stock valued at $5,527,869 in the last three months. 1.60% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Resources Management Corp CT ADV bought a new stake in Cooper Companies during the third quarter worth about $203,000. Engineers Gate Manager LP bought a new stake in Cooper Companies during the third quarter worth about $208,000. Zeke Capital Advisors LLC bought a new stake in Cooper Companies during the third quarter worth about $209,000. Boston Private Wealth LLC bought a new stake in Cooper Companies during the third quarter worth about $213,000. Finally, Raymond James Trust N.A. bought a new stake in Cooper Companies during the third quarter worth about $214,000.
COO has been the subject of several research analyst reports. Zacks Investment Research lowered Cooper Companies from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. Oppenheimer set a $270.00 price objective on Cooper Companies and gave the company a “hold” rating in a research note on Friday, August 31st. BMO Capital Markets lifted their price objective on Cooper Companies from $280.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, August 31st. Wells Fargo & Co lifted their price objective on Cooper Companies from $290.00 to $295.00 and gave the company an “outperform” rating in a research note on Monday, November 12th. Finally, ValuEngine raised Cooper Companies from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Cooper Companies currently has a consensus rating of “Buy” and a consensus price target of $284.50.
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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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