Cooper Companies (NASDAQ:COO) Reaches New 52-Week Low – Here’s Why

The Cooper Companies, Inc. (NASDAQ:COO)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $77.57 and last traded at $77.61, with a volume of 213277 shares traded. The stock had previously closed at $79.07.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Cooper Companies from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Robert W. Baird dropped their price target on Cooper Companies from $117.00 to $107.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Morgan Stanley reduced their price objective 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. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research note on Friday, March 7th. Finally, StockNews.com downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.89.

Cooper Companies Stock Down 1.5 %

The stock’s fifty day simple moving average is $91.67 and its 200-day simple moving average is $99.11. The stock has a market cap of $15.55 billion, a P/E ratio of 39.89, a P/E/G ratio of 2.25 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $964.70 million during the quarter, compared to analysts’ expectations of $981.25 million. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. As a group, research analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Institutional Trading of Cooper Companies

Several large investors have recently modified their holdings of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Cooper Companies during the fourth quarter worth about $691,000. Highland Capital Management LLC acquired a new position in Cooper Companies during the fourth quarter valued at approximately $4,004,000. Caprock Group LLC bought a new stake in Cooper Companies during the fourth quarter worth $282,000. Franklin Resources Inc. lifted its stake in Cooper Companies by 194.0% during the third quarter. Franklin Resources Inc. now owns 48,892 shares of the medical device company’s stock worth $5,265,000 after purchasing an additional 32,260 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Cooper Companies by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 238,305 shares of the medical device company’s stock valued at $26,295,000 after purchasing an additional 14,687 shares in the last quarter. 24.39% of the stock is 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.