Cooper Companies (NYSE:COO) Issues FY 2022 Earnings Guidance

Cooper Companies (NYSE:COOGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $12.72-$12.87 for the period, compared to the consensus EPS estimate of $13.14. The company issued revenue guidance of $3.29 billion-$3.31 billion, compared to the consensus revenue estimate of $3.29 billion. Cooper Companies also updated its Q4 2022 guidance to $3.05-$3.20 EPS.

Cooper Companies Stock Performance

Cooper Companies stock traded down $3.16 during midday trading on Friday, reaching $271.03. 19,142 shares of the stock traded hands, compared to its average volume of 333,272. Cooper Companies has a fifty-two week low of $271.54 and a fifty-two week high of $444.22. The firm has a market cap of $13.38 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 2.16 and a beta of 0.93. The firm has a fifty day moving average price of $310.75 and a two-hundred day moving average price of $342.52. The company has a current ratio of 1.16, a quick ratio of 0.71 and a debt-to-equity ratio of 0.33.

Cooper Companies (NYSE:COOGet Rating) last released its quarterly earnings results on Wednesday, August 31st. The medical device company reported $3.19 EPS for the quarter, missing analysts’ consensus estimates of $3.20 by ($0.01). Cooper Companies had a return on equity of 9.22% and a net margin of 13.38%. The company had revenue of $843.40 million for the quarter, compared to the consensus estimate of $830.22 million. During the same quarter last year, the firm posted $3.41 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Cooper Companies will post 12.79 earnings per share for the current year.

Cooper Companies Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, August 11th. Investors of record on Wednesday, July 27th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, July 26th. Cooper Companies’s payout ratio is currently 0.69%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Stifel Nicolaus dropped their target price on shares of Cooper Companies from $475.00 to $450.00 in a report on Monday, June 6th. TheStreet lowered shares of Cooper Companies from a b- rating to a c+ rating in a report on Monday, July 18th. Citigroup lowered their price objective on shares of Cooper Companies from $406.00 to $350.00 and set a buy rating on the stock in a research report on Thursday, September 1st. Robert W. Baird lowered their price objective on shares of Cooper Companies from $375.00 to $345.00 and set a neutral rating on the stock in a research report on Thursday, September 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Cooper Companies from $370.00 to $365.00 and set an overweight rating on the stock in a research report on Thursday, September 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Cooper Companies presently has a consensus rating of Moderate Buy and an average target price of $406.00.

Institutional Trading of Cooper Companies

Several hedge funds have recently bought and sold shares of COO. Covestor Ltd raised its holdings in Cooper Companies by 117.1% during the 1st quarter. Covestor Ltd now owns 280 shares of the medical device company’s stock worth $117,000 after buying an additional 151 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of Cooper Companies in the first quarter valued at approximately $147,000. Walleye Capital LLC acquired a new stake in shares of Cooper Companies in the first quarter valued at approximately $203,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Cooper Companies in the first quarter valued at approximately $217,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Cooper Companies in the second quarter valued at approximately $228,000. 97.09% of the stock is currently owned by institutional investors and hedge funds.

About Cooper Companies

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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 offers spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, myopia, ocular dryness and eye fatigues in the Americas, Europe, Middle East, Africa, and Asia Pacific.

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

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