Cooper Companies (NASDAQ:COO) Receives Neutral Rating from JPMorgan Chase & Co.

Cooper Companies (NASDAQ:COO)‘s stock had its “neutral” rating reiterated by JPMorgan Chase & Co. in a research report issued on Friday,Benzinga reports. They currently have a $76.00 target price on the medical device company’s stock, down from their previous target price of $110.00. JPMorgan Chase & Co.‘s price target suggests a potential downside of 4.95% from the stock’s previous close.

A number of other equities research analysts have also weighed in on COO. Robert W. Baird dropped their price objective on shares of Cooper Companies from $117.00 to $107.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Piper Sandler reiterated an “overweight” rating and set a $115.00 price target (down previously from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. Citigroup cut their price objective on Cooper Companies from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Wall Street Zen upgraded Cooper Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. Finally, Stifel Nicolaus cut their price target on shares of Cooper Companies from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Cooper Companies Trading Down 0.2%

NASDAQ COO opened at $79.96 on Friday. Cooper Companies has a 52 week low of $69.81 and a 52 week high of $112.38. The company has a 50 day moving average price of $80.12 and a 200 day moving average price of $88.69. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The firm has a market cap of $15.99 billion, a PE ratio of 41.01, a price-to-earnings-growth ratio of 2.25 and a beta of 1.08.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, May 29th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. As a group, sell-side analysts forecast that Cooper Companies will post 3.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Cooper Companies

Several institutional investors have recently made changes to their positions in COO. T. Rowe Price Investment Management Inc. grew its position in Cooper Companies by 2.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,678,965 shares of the medical device company’s stock valued at $705,928,000 after buying an additional 155,233 shares during the period. JPMorgan Chase & Co. raised its position in shares of Cooper Companies by 3.4% in the first quarter. JPMorgan Chase & Co. now owns 5,177,008 shares of the medical device company’s stock worth $436,681,000 after acquiring an additional 172,485 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cooper Companies by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,906,463 shares of the medical device company’s stock worth $449,907,000 after acquiring an additional 109,907 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Cooper Companies by 17.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,734,327 shares of the medical device company’s stock valued at $399,340,000 after acquiring an additional 686,751 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Cooper Companies by 14.6% in the 4th quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company’s stock valued at $415,985,000 after purchasing an additional 574,899 shares in the last quarter. 24.39% of the stock is owned by hedge funds and other 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.