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

Cooper Companies (NYSE:COOGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $13.09-$13.29 for the period, compared to the consensus EPS estimate of $13.74. The company issued revenue guidance of $3.28 billion-$3.31 billion, compared to the consensus revenue estimate of $3.29 billion.

Shares of NYSE:COO traded up $6.28 during mid-day trading on Thursday, reaching $307.68. The company had a trading volume of 26,594 shares, compared to its average volume of 355,482. The company’s 50-day moving average price is $347.53 and its 200-day moving average price is $384.80. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 0.33. Cooper Companies has a one year low of $297.34 and a one year high of $463.59. The firm has a market cap of $15.18 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 2.09 and a beta of 0.90.

Cooper Companies (NYSE:COOGet Rating) last released its quarterly earnings results on Thursday, June 2nd. The medical device company reported $3.24 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.19). Cooper Companies had a return on equity of 9.48% and a net margin of 30.20%. The firm had revenue of $829.80 million during the quarter, compared to the consensus estimate of $821.03 million. During the same period in the previous year, the company posted $3.38 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that Cooper Companies will post 13.19 EPS for the current fiscal year.

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Cooper Companies from $495.00 to $380.00 and set an overweight rating for the company in a research note on Monday, May 23rd. Robert W. Baird dropped their target price on shares of Cooper Companies from $437.00 to $392.00 in a report on Thursday, May 26th. Stephens dropped their price target on shares of Cooper Companies from $500.00 to $460.00 and set an overweight rating on the stock in a research note on Friday, June 3rd. KeyCorp decreased their price objective on shares of Cooper Companies from $414.00 to $408.00 and set an overweight rating on the stock in a research report on Friday, June 3rd. Finally, Citigroup lifted their price target on shares of Cooper Companies from $405.00 to $406.00 and gave the company a buy rating in a report on Monday, June 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $432.89.

In other news, Director Jody S. Lindell sold 700 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $421.04, for a total value of $294,728.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary S. Petersmeyer sold 300 shares of the firm’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $410.55, for a total transaction of $123,165.00. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock worth $5,832,207 over the last three months. 1.70% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Covestor Ltd increased its stake in shares of Cooper Companies by 117.1% during the first quarter. Covestor Ltd now owns 280 shares of the medical device company’s stock worth $117,000 after acquiring an additional 151 shares during the period. Loomis Sayles & Co. L P purchased a new stake in Cooper Companies during the first quarter worth about $147,000. Walleye Capital LLC purchased a new stake in Cooper Companies during the first quarter worth about $203,000. Atria Wealth Solutions Inc. purchased a new stake in Cooper Companies during the first quarter worth about $217,000. Finally, Sawtooth Solutions LLC purchased a new stake in Cooper Companies during the first quarter worth about $236,000. Hedge funds and other institutional investors own 98.38% of the company’s stock.

About Cooper Companies (Get Rating)

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.

See Also

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

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