Northcoast Research Comments on Cooper Companies Inc’s FY2019 Earnings (NYSE:COO)

Cooper Companies Inc (NYSE:COO) – Equities researchers at Northcoast Research upped their FY2019 earnings per share estimates for shares of Cooper Companies in a research note issued on Tuesday, August 13th. Northcoast Research analyst D. Keiser now expects that the medical device company will earn $12.40 per share for the year, up from their prior forecast of $12.30. Northcoast Research has a “Buy” rating and a $340.00 price objective on the stock. Northcoast Research also issued estimates for Cooper Companies’ Q4 2019 earnings at $3.37 EPS, Q2 2020 earnings at $3.33 EPS and Q4 2020 earnings at $3.75 EPS.

Cooper Companies (NYSE:COO) last issued its quarterly earnings data on Thursday, May 30th. The medical device company reported $2.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.76 by $0.18. Cooper Companies had a return on equity of 17.25% and a net margin of 16.46%. The company had revenue of $654.30 million during the quarter, compared to the consensus estimate of $655.00 million. During the same period last year, the company earned $2.86 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year.

A number of other equities analysts also recently issued reports on the company. Piper Jaffray Companies raised their price objective on Cooper Companies from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday. Zacks Investment Research upgraded Cooper Companies from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research report on Friday, June 7th. Raymond James raised their price objective on Cooper Companies from $325.00 to $364.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Co raised their target price on Cooper Companies from $356.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $322.91.

Shares of COO opened at $335.96 on Wednesday. Cooper Companies has a 1 year low of $228.65 and a 1 year high of $344.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.21 and a quick ratio of 0.68. The company has a market capitalization of $16.63 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 2.52 and a beta of 0.90. The business has a 50-day moving average of $334.14 and a 200-day moving average of $304.39.

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, August 7th. Investors of record on Tuesday, July 23rd were paid a dividend of $0.03 per share. The ex-dividend date was Monday, July 22nd. Cooper Companies’s dividend payout ratio is currently 0.52%.

In related news, Director Jody S. Lindell sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $328.29, for a total transaction of $984,870.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Daniel G. Mcbride sold 11,981 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $315.99, for a total value of $3,785,876.19. Following the sale, the chief operating officer now directly owns 42,668 shares of the company’s stock, valued at approximately $13,482,661.32. The disclosure for this sale can be found here. Insiders have sold 77,678 shares of company stock valued at $25,063,536 in the last ninety days. 1.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System grew its stake in Cooper Companies by 16.5% in the second quarter. California Public Employees Retirement System now owns 355,951 shares of the medical device company’s stock valued at $119,916,000 after acquiring an additional 50,532 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Cooper Companies by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 8,853 shares of the medical device company’s stock valued at $2,983,000 after acquiring an additional 152 shares during the period. Voloridge Investment Management LLC boosted its position in shares of Cooper Companies by 489.4% during the second quarter. Voloridge Investment Management LLC now owns 12,390 shares of the medical device company’s stock valued at $4,174,000 after buying an additional 10,288 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in shares of Cooper Companies by 17.0% during the second quarter. Worldquant Millennium Advisors LLC now owns 46,974 shares of the medical device company’s stock valued at $15,825,000 after buying an additional 6,817 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Cooper Companies by 31,545.4% during the second quarter. Nuveen Asset Management LLC now owns 342,087 shares of the medical device company’s stock valued at $115,246,000 after buying an additional 341,006 shares during the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

About Cooper Companies

The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.

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Earnings History and Estimates for Cooper Companies (NYSE:COO)

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