Cooper Companies (NYSE:COO) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Cooper Companies (NYSE:COO) posted its earnings results on Thursday. The medical device company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.07, Briefing.com reports. The firm had revenue of $679.40 million during the quarter, compared to analyst estimates of $687.60 million. Cooper Companies had a net margin of 16.46% and a return on equity of 17.25%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.00 EPS.

Shares of NYSE COO opened at $302.10 on Friday. The firm has a market cap of $16.15 billion, a PE ratio of 26.27, a PEG ratio of 2.47 and a beta of 0.90. The firm has a fifty day moving average of $332.80 and a 200 day moving average of $307.49. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.68 and a current ratio of 1.21. Cooper Companies has a one year low of $228.65 and a one year high of $344.32.

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



Several equities analysts have recently weighed in on COO shares. Piper Jaffray Companies lifted their target price on shares of Cooper Companies from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Raymond James reaffirmed a “buy” rating on shares of Cooper Companies in a report on Monday. Wells Fargo & Co lifted their target price on shares of Cooper Companies from $356.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Northcoast Research reaffirmed a “buy” rating and set a $340.00 target price (up from $331.00) on shares of Cooper Companies in a report on Monday, June 3rd. Finally, Zacks Investment Research raised shares of Cooper Companies from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $326.27.

In related news, SVP Agostino Ricupati sold 5,532 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $326.67, for a total value of $1,807,138.44. Following the completion of the sale, the senior vice president now owns 742 shares of the company’s stock, valued at approximately $242,389.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Daniel G. Mcbride sold 11,981 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $315.99, for a total transaction of $3,785,876.19. Following the completion of 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. In the last three months, insiders sold 77,678 shares of company stock valued at $25,063,536. 1.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Cooper Companies by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,566,546 shares of the medical device company’s stock worth $1,875,314,000 after purchasing an additional 227,435 shares during the last quarter. BlackRock Inc. boosted its stake in Cooper Companies by 1.4% during the 1st quarter. BlackRock Inc. now owns 3,784,211 shares of the medical device company’s stock worth $1,120,769,000 after purchasing an additional 51,482 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Cooper Companies by 4.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,834,318 shares of the medical device company’s stock worth $839,449,000 after purchasing an additional 112,906 shares during the last quarter. Veritas Asset Management LLP boosted its stake in Cooper Companies by 77.8% during the 1st quarter. Veritas Asset Management LLP now owns 981,302 shares of the medical device company’s stock worth $290,632,000 after purchasing an additional 429,340 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Cooper Companies by 9.7% during the 4th quarter. Geode Capital Management LLC now owns 721,796 shares of the medical device company’s stock worth $183,414,000 after purchasing an additional 63,889 shares during the last quarter. 96.59% of the stock is currently owned by institutional investors.

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 for Cooper Companies (NYSE:COO)

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