Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Increases By 14.7%

The Cooper Companies, Inc. (NASDAQ:COO) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 2,970,000 shares, a growth of 14.7% from the May 31st total of 2,590,000 shares. Based on an average trading volume of 1,070,000 shares, the days-to-cover ratio is presently 2.8 days.

Cooper Companies Price Performance

COO stock traded down $0.84 during midday trading on Wednesday, reaching $85.67. The company had a trading volume of 129,272 shares, compared to its average volume of 1,098,426. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.14. Cooper Companies has a 1 year low of $75.93 and a 1 year high of $104.07. The company has a market capitalization of $17.06 billion, a P/E ratio of 50.81, a P/E/G ratio of 2.16 and a beta of 0.98. The firm has a 50-day moving average price of $92.55 and a 200-day moving average price of $94.77.

Cooper Companies (NASDAQ:COO) last released its earnings results on Thursday, May 30th. The medical device company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The company had revenue of $942.60 million for the quarter, compared to analyst estimates of $948.07 million. During the same quarter last year, the firm earned $0.77 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, research analysts anticipate that Cooper Companies will post 3.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COO has been the topic of several research reports. Redburn Atlantic raised shares of Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Tuesday, March 19th. Robert W. Baird boosted their price target on shares of Cooper Companies from $116.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research report on Friday, May 31st. JPMorgan Chase & Co. raised shares of Cooper Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $100.00 to $120.00 in a research report on Wednesday, March 13th. Finally, Citigroup boosted their price target on shares of Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Cooper Companies has a consensus rating of “Moderate Buy” and an average price target of $111.42.

Hedge Funds Weigh In On Cooper Companies

Institutional investors and hedge funds have recently made changes to their positions in the business. Treasurer of the State of North Carolina boosted its holdings in shares of Cooper Companies by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 22,861 shares of the medical device company’s stock worth $8,652,000 after buying an additional 212 shares during the last quarter. Hsbc Holdings PLC increased its position in Cooper Companies by 55.3% in the fourth quarter. Hsbc Holdings PLC now owns 87,718 shares of the medical device company’s stock worth $33,188,000 after purchasing an additional 31,234 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Cooper Companies by 300.0% in the first quarter. Gulf International Bank UK Ltd now owns 17,148 shares of the medical device company’s stock worth $1,739,000 after purchasing an additional 12,861 shares during the last quarter. Parkman Healthcare Partners LLC increased its position in Cooper Companies by 15.1% during the fourth quarter. Parkman Healthcare Partners LLC now owns 75,183 shares of the medical device company’s stock valued at $28,452,000 after acquiring an additional 9,862 shares during the last quarter. Finally, Czech National Bank increased its position in Cooper Companies by 303.2% during the first quarter. Czech National Bank now owns 34,968 shares of the medical device company’s stock valued at $3,548,000 after acquiring an additional 26,295 shares during the last quarter. Institutional investors own 24.39% of the company’s stock.

About Cooper Companies

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.