Oppenheimer analyst Steven Lichtman maintained a Hold rating on Cooper Co (NYSE: COO) today and set a price target of $270. The company’s shares opened today at $254.50.
Lichtman observed:
“F3Q18 sales of $660M (+8% yoy PF) came in above our/Street’s $658M (+7% PF)/ $653M estimates. The beat was evenly distributed between CVI/CSI. Growth in CVI continued to be led by daily Silicon Hydrogel while stronger than expected growth in PARAGARD drove CSI. $3.00 came in below our/Street’s estimates of $3.11/$3.07 primarily owing to FX ($0.10 worse than forecast). COO also highlighted focus on accelerated spending in advertising/promotional activities in key accounts to drive new wearer growth, as well as expanded investments in Paraguard. Management noted the stronger contact lens market (vs. 4-6% historical growth rate) as wearers continue to trade up to dailies. Pro forma FY18 sales guidance was raised slightly while reported sales/EPS were lowered on reduced FX tailwind.”
According to TipRanks.com, Lichtman ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.2% and a 52.8% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Motus Gi Holdings Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cooper Co with a $280.67 average price target.
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The company has a one-year high of $266.99 and a one-year low of $216.47. Currently, Cooper Co has an average volume of 392.4K.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. Last month, Stanley Zinberg, a Director at COO sold 6,500 shares for a total of $1,550,055.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
The Cooper Cos, Inc. operates as a medical device company. It operates through the following business units: Cooper Vision and Cooper Surgical. The Cooper Vision business unit brings a refreshing perspective on vision care with a commitment to crafting quality lenses for contact lens wearers.
