Wells Fargo & Company Cuts Cooper Companies (NASDAQ:COO) Price Target to $93.00

Cooper Companies (NASDAQ:COO) had its target price reduced by Wells Fargo & Company from $118.00 to $93.00 in a report published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical device company’s stock.

Several other equities analysts have also recently weighed in on the company. Wall Street Zen raised Cooper Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research note on Thursday, May 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 target price (down previously from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $76.00 price target (down from $110.00) on shares of Cooper Companies in a report on Friday. Finally, Citigroup reduced their price target on Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Cooper Companies Trading Down 13.8%

Shares of COO opened at $68.94 on Friday. The business’s 50-day moving average price is $79.82 and its 200 day moving average price is $88.29. The stock has a market capitalization of $13.79 billion, a P/E ratio of 35.35, a P/E/G ratio of 2.25 and a beta of 1.08. Cooper Companies has a 1-year low of $65.95 and a 1-year high of $112.38. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $995.12 million. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. Cooper Companies’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. Analysts expect that Cooper Companies will post 3.98 earnings per share for the current year.

Institutional Investors Weigh In On Cooper Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Byrne Asset Management LLC acquired a new stake in Cooper Companies in the 4th quarter worth approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in Cooper Companies in the 1st quarter worth approximately $33,000. OFI Invest Asset Management acquired a new stake in Cooper Companies in the 4th quarter worth approximately $34,000. City Holding Co. acquired a new stake in Cooper Companies in the 1st quarter worth approximately $34,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Cooper Companies during the fourth quarter worth approximately $38,000. 24.39% of the stock is currently owned by institutional investors and hedge funds.

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.