Cooper Companies (NASDAQ:COO – Get Free Report) posted its earnings results on Thursday. The medical device company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02, Briefing.com reports. Cooper Companies had a return on equity of 8.79% and a net margin of 7.93%. The company had revenue of $942.60 million for the quarter, compared to analyst estimates of $948.07 million. During the same period last year, the company earned $0.77 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. Cooper Companies updated its FY24 guidance to $3.54-3.60 EPS and its FY 2024 guidance to 3.540-3.600 EPS.
Cooper Companies Stock Down 1.0 %
Shares of COO opened at $90.23 on Friday. The company has a market capitalization of $17.93 billion, a P/E ratio of 61.70, a PEG ratio of 2.31 and a beta of 0.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.86 and a quick ratio of 1.08. Cooper Companies has a one year low of $75.93 and a one year high of $104.07. The business’s 50 day simple moving average is $94.69 and its 200-day simple moving average is $93.59.
Analyst Ratings Changes
Several equities analysts have weighed in on COO shares. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a report on Friday. Piper Sandler raised their target price on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Redburn Atlantic upgraded Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, March 19th. Citigroup lifted their price objective on Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upgraded Cooper Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $100.00 to $120.00 in a research note on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.69.
Insider Transactions at Cooper Companies
In other news, CAO Agostino Ricupati sold 54,724 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $100.89, for a total value of $5,521,104.36. Following the transaction, the chief accounting officer now directly owns 5,081 shares of the company’s stock, valued at approximately $512,622.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Agostino Ricupati sold 54,724 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $100.89, for a total value of $5,521,104.36. Following the completion of the transaction, the chief accounting officer now owns 5,081 shares in the company, valued at approximately $512,622.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary S. Petersmeyer sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $103.51, for a total transaction of $103,510.00. Following the completion of the transaction, the director now owns 5,668 shares of the company’s stock, valued at approximately $586,694.68. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
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.
Recommended Stories
Receive News & Ratings for Cooper Companies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cooper Companies and related companies with MarketBeat.com’s FREE daily email newsletter.
ABMN Staff
Source link
