Cooper Companies Inc (NYSE:COO) Short Interest Down 9.4% in January

Cooper Companies Inc (NYSE:COO) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 1,150,000 shares, a decline of 9.4% from the January 15th total of 1,270,000 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average trading volume of 285,200 shares, the short-interest ratio is currently 4.0 days.

Shares of COO traded up $0.34 during midday trading on Friday, hitting $353.31. The stock had a trading volume of 195,721 shares, compared to its average volume of 284,985. The company has a 50 day simple moving average of $342.09 and a two-hundred day simple moving average of $316.79. Cooper Companies has a twelve month low of $274.77 and a twelve month high of $365.68. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 37.83, a price-to-earnings-growth ratio of 2.54 and a beta of 0.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.05 and a quick ratio of 0.59.

Cooper Companies (NYSE:COO) last released its earnings results on Thursday, December 5th. The medical device company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.03. The business had revenue of $691.60 million for the quarter, compared to the consensus estimate of $683.83 million. Cooper Companies had a return on equity of 17.38% and a net margin of 17.59%. Cooper Companies’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.87 earnings per share. Analysts forecast that Cooper Companies will post 12.8 EPS for the current fiscal year.

The business also recently announced a semi-annual dividend, which was paid on Monday, February 10th. Investors of record on Thursday, January 23rd were given a $0.03 dividend. The ex-dividend date was Wednesday, January 22nd. Cooper Companies’s dividend payout ratio is currently 0.49%.

In other Cooper Companies news, Director Michael Kalkstein sold 9,500 shares of Cooper Companies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $320.35, for a total value of $3,043,325.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jody S. Lindell sold 3,500 shares of Cooper Companies stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $321.01, for a total value of $1,123,535.00. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in COO. Amundi Pioneer Asset Management Inc. increased its position in shares of Cooper Companies by 83.5% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 915,089 shares of the medical device company’s stock valued at $294,008,000 after acquiring an additional 416,382 shares during the last quarter. Marshall Wace North America L.P. increased its position in shares of Cooper Companies by 56.1% in the fourth quarter. Marshall Wace North America L.P. now owns 813,443 shares of the medical device company’s stock valued at $261,352,000 after acquiring an additional 292,238 shares during the last quarter. FIL Ltd increased its position in shares of Cooper Companies by 18.5% in the fourth quarter. FIL Ltd now owns 938,718 shares of the medical device company’s stock valued at $301,601,000 after acquiring an additional 146,784 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Cooper Companies by 24.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 658,186 shares of the medical device company’s stock valued at $211,469,000 after acquiring an additional 128,276 shares during the last quarter. Finally, Thornburg Investment Management Inc. acquired a new stake in shares of Cooper Companies in the fourth quarter valued at about $41,089,000. 96.30% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on the company. KeyCorp lifted their price target on Cooper Companies from $351.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Zacks Investment Research raised Cooper Companies from a “sell” rating to a “hold” rating and set a $325.00 price target on the stock in a research note on Wednesday, November 20th. Northcoast Research reissued a “buy” rating on shares of Cooper Companies in a research note on Tuesday, December 3rd. Robert W. Baird reissued a “buy” rating and issued a $345.00 price target on shares of Cooper Companies in a research note on Friday, December 6th. Finally, Jefferies Financial Group dropped their price target on Cooper Companies from $358.00 to $330.00 and set an “in-line” rating on the stock in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Cooper Companies has an average rating of “Buy” and an average target price of $344.70.

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.

Further Reading: Balanced Fund

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