Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Expands By 27.3%

The Cooper Companies, Inc. (NASDAQ:COO) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,240,000 shares, an increase of 27.3% from the October 15th total of 1,760,000 shares. Based on an average trading volume of 1,140,000 shares, the short-interest ratio is currently 2.0 days.

Insider Transactions at Cooper Companies

In other Cooper Companies news, CAO Agostino Ricupati sold 1,601 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total value of $172,956.03. Following the transaction, the chief accounting officer now directly owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. The trade was a 24.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Daniel G. Mcbride sold 114,992 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the sale, the chief operating officer now owns 44,696 shares of the company’s stock, valued at $4,714,534.08. This trade represents a 72.01 % decrease in their position. 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. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Cooper Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COO. Ashton Thomas Securities LLC purchased a new position in Cooper Companies in the third quarter worth about $25,000. Covestor Ltd lifted its stake in Cooper Companies by 305.9% in the 1st quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock worth $28,000 after purchasing an additional 208 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Cooper Companies during the 2nd quarter worth approximately $25,000. Crewe Advisors LLC lifted its position in Cooper Companies by 286.4% during the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 252 shares during the last quarter. Finally, Clearstead Trust LLC bought a new stake in Cooper Companies during the first quarter worth approximately $36,000. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Trading Down 0.4 %

COO stock traded down $0.39 during midday trading on Friday, hitting $99.47. 684,274 shares of the company’s stock were exchanged, compared to its average volume of 1,123,476. The stock’s fifty day moving average price is $106.97 and its 200-day moving average price is $97.87. The company has a market cap of $19.81 billion, a PE ratio of 55.63, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99. Cooper Companies has a one year low of $82.21 and a one year high of $112.38.

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

Analyst Upgrades and Downgrades

COO has been the subject of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Robert W. Baird increased their price objective on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler upped their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “hold” rating 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.00.

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.