Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Grows By 8.1%

The Cooper Companies, Inc. (NASDAQ:COO) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 2,390,000 shares, a growth of 8.1% from the November 15th total of 2,210,000 shares. Based on an average daily volume of 1,240,000 shares, the short-interest ratio is presently 1.9 days.

Cooper Companies Price Performance

Shares of COO traded up $0.48 on Tuesday, hitting $94.46. The company’s stock had a trading volume of 982,215 shares, compared to its average volume of 1,166,100. Cooper Companies has a fifty-two week low of $84.76 and a fifty-two week high of $112.38. The company has a market capitalization of $18.85 billion, a PE ratio of 48.19, a PEG ratio of 2.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. The company has a 50 day moving average price of $103.26 and a 200 day moving average price of $99.00.

Cooper Companies (NASDAQ:COO) last released its earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. On average, research analysts anticipate that Cooper Companies will post 3.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Cooper Companies

In other news, CEO Albert G. White III sold 114,992 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in shares of Cooper Companies during the 2nd quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cooper Companies in the 3rd quarter valued at approximately $25,000. Crewe Advisors LLC grew its stake in shares of Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after buying an additional 252 shares in the last quarter. Tortoise Investment Management LLC raised its position in Cooper Companies by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock worth $34,000 after acquiring an additional 169 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Cooper Companies by 144.9% in the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COO. Citigroup lowered their price target on Cooper Companies from $116.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, December 6th. StockNews.com cut Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Stifel Nicolaus restated a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Piper Sandler increased their price objective on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Morgan Stanley decreased their target price on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Cooper Companies currently has a consensus rating of “Moderate Buy” and an average 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.