The Cooper Companies, Inc. (NASDAQ:COO) Short Interest Update

The Cooper Companies, Inc. (NASDAQ:COO) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,950,000 shares, a growth of 28.2% from the February 28th total of 3,080,000 shares. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is presently 2.2 days. Approximately 2.0% of the shares of the company are short sold.

Analysts Set New Price Targets

COO has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research note on Friday, March 7th. Stifel Nicolaus dropped their price target on Cooper Companies from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. BNP Paribas upgraded Cooper Companies to a “hold” rating in a research note on Thursday, March 13th. Piper Sandler restated an “overweight” rating and issued a $115.00 price objective (down from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. Finally, Citigroup cut their target price on shares of Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.25.

Cooper Companies Stock Performance

NASDAQ COO opened at $81.23 on Thursday. The company’s 50 day simple moving average is $88.59 and its two-hundred day simple moving average is $96.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. Cooper Companies has a 1 year low of $77.05 and a 1 year high of $112.38. The stock has a market capitalization of $16.24 billion, a PE ratio of 41.66, a P/E/G ratio of 2.25 and a beta of 1.02.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data 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 company had revenue of $964.70 million during the quarter, compared to analyst estimates of $981.25 million. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. Analysts predict that Cooper Companies will post 3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cooper Companies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Byrne Asset Management LLC bought a new position in shares of Cooper Companies in the 4th quarter worth $33,000. OFI Invest Asset Management bought a new position in Cooper Companies in the fourth quarter valued at $34,000. New Age Alpha Advisors LLC bought a new position in Cooper Companies in the fourth quarter valued at $38,000. Covestor Ltd raised its position in Cooper Companies by 35.5% during the fourth quarter. Covestor Ltd now owns 458 shares of the medical device company’s stock valued at $42,000 after purchasing an additional 120 shares in the last quarter. Finally, West Financial Advisors LLC bought a new stake in Cooper Companies during the fourth quarter worth about $49,000. 24.39% of the stock is owned by hedge funds and other institutional investors.

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.