Zacks Investment Research cut shares of Cooper Companies, Inc. (The) (NYSE:COO) from a buy rating to a hold rating in a research note released on Monday.
According to Zacks, “The Cooper Companies generates a significant part of its revenues in foreign currencies. Thus, the ongoing unfavorable currency translation is expected to negatively impact the company’s top-line growth in 2017. Furthermore, intensifying competition in the contact lens will continue to increase pricing pressure for the company. Also, the stocks overvaluation reflects a relatively dull scenario that might be a cause for investors’ concern. However, the company ended second-quarter fiscal 2017 with the Zacks Consensus Estimates beating on both lines. On a positive note, the company outperformed the broader industry in terms of price performance over the past six months. The Cooper Companies have always had an impressive show from its CooperSurgical business segment. The CooperVision segment also delivered strong sales in the last quarter, buoyed by robust performance by Toric.”
Several other equities research analysts have also recently issued reports on the company. BMO Capital Markets reiterated an outperform rating and issued a $255.00 price objective (up from $220.00) on shares of Cooper Companies, Inc. (The) in a report on Monday, June 5th. Jefferies Group LLC reiterated a buy rating and issued a $250.00 price objective (up from $220.00) on shares of Cooper Companies, Inc. (The) in a report on Saturday, June 3rd. Stifel Nicolaus lifted their price objective on Cooper Companies, Inc. (The) from $220.00 to $231.00 and gave the stock a buy rating in a report on Friday, June 2nd. Piper Jaffray Companies lifted their price objective on Cooper Companies, Inc. (The) to $265.00 and gave the stock an overweight rating in a report on Wednesday, July 19th. Finally, KeyCorp reiterated a sector weight rating on shares of Cooper Companies, Inc. (The) in a report on Friday, July 21st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Cooper Companies, Inc. (The) has a consensus rating of Buy and a consensus price target of $242.33.
Cooper Companies, Inc. (NYSE COO) opened at 246.36 on Monday. The company has a market cap of $12.04 billion, a P/E ratio of 36.94 and a beta of 0.61. The stock’s 50 day moving average price is $245.90 and its 200 day moving average price is $218.68. Cooper Companies, Inc. has a 1-year low of $158.73 and a 1-year high of $256.39.
Cooper Companies, Inc. (The) (NYSE:COO) last posted its quarterly earnings data on Thursday, June 1st. The medical device company reported $2.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.25 by $0.25. Cooper Companies, Inc. (The) had a return on equity of 15.88% and a net margin of 16.02%. The company had revenue of $522.40 million for the quarter, compared to analysts’ expectations of $520.71 million. During the same period in the previous year, the firm posted $2.05 EPS. Cooper Companies, Inc. (The)’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Cooper Companies, Inc. will post $9.63 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Cooper Companies, Inc. (The) (COO) Cut to “Hold” at Zacks Investment Research” was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://stocknewstimes.com/2017/08/24/cooper-companies-inc-the-coo-cut-to-hold-at-zacks-investment-research.html.
The business also recently announced a semiannual dividend, which was paid on Monday, August 7th. Stockholders of record on Friday, July 21st were issued a dividend of $0.03 per share. This represents a dividend yield of 0.02%. The ex-dividend date was Wednesday, July 19th. Cooper Companies, Inc. (The)’s dividend payout ratio is currently 0.90%.
In other news, EVP Carol R. Kaufman sold 5,408 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $240.86, for a total transaction of $1,302,570.88. Following the transaction, the executive vice president now directly owns 49,327 shares in the company, valued at approximately $11,880,901.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stanley Md Zinberg sold 816 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $243.14, for a total value of $198,402.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,331 shares of company stock worth $16,400,454. Insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Cooper Companies, Inc. (The) by 3.3% in the second quarter. Vanguard Group Inc. now owns 4,938,181 shares of the medical device company’s stock valued at $1,182,298,000 after buying an additional 156,449 shares in the last quarter. BlackRock Inc. boosted its position in shares of Cooper Companies, Inc. (The) by 4.5% in the second quarter. BlackRock Inc. now owns 3,210,032 shares of the medical device company’s stock valued at $768,546,000 after buying an additional 138,395 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Cooper Companies, Inc. (The) by 558.5% in the second quarter. Janus Henderson Group PLC now owns 2,175,791 shares of the medical device company’s stock valued at $520,937,000 after buying an additional 1,845,368 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of Cooper Companies, Inc. (The) by 35.7% in the first quarter. Janus Capital Management LLC now owns 1,743,182 shares of the medical device company’s stock valued at $348,441,000 after buying an additional 458,173 shares in the last quarter. Finally, Pioneer Investment Management Inc. boosted its position in shares of Cooper Companies, Inc. (The) by 136.6% in the second quarter. Pioneer Investment Management Inc. now owns 1,226,250 shares of the medical device company’s stock valued at $293,589,000 after buying an additional 708,028 shares in the last quarter. Institutional investors and hedge funds own 98.06% of the company’s stock.
About Cooper Companies, Inc. (The)
The Cooper Companies, Inc is a global medical device company. The Company operates through two business units: CooperVision, Inc and CooperSurgical, Inc CooperVision offers soft contact lenses for the vision correction market. CooperVision develops, manufactures and markets a range of single-use, two-week and monthly contact lenses.
Get a free copy of the Zacks research report on Cooper Companies, Inc. (The) (COO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cooper Companies Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Companies Inc. (The) and related companies with MarketBeat.com's FREE daily email newsletter.
