JP Morgan May Have Lost Confidence in The Cooper Companies (NYSE:COO), Downgrades Shares

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The Cooper Companies (NYSE:COO) Receives a Downgrade

JP Morgan cut shares of The Cooper Companies (NYSE:COO) stock to a Neutral rating from their previous Overweight rating. The news of this change was released in an analyst note today. The firm after the upgrade has $145.00 target on the shares.

From a total of 10 analysts covering Cooper (NYSE:COO) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 71% of the ratings are positive. The highest target price is $205 while the lowest target price is $136. The mean of all analyst targets is $178.1 with a 32.19% above today’s ($141.99) stock price. Cooper was the topic of 9 analyst reports since August 26, 2015 according to the firm StockzIntelligence Inc. Wells Fargo downgraded shares on November 17 to “Market Perform” rating. Piper Jaffray maintained COO stock in a recent report from September 4 with “Buy” rating. Finally, KeyBanc Capital Markets upgraded the stock to “Sector Weight” rating in a report issued on an August 26.

The stock decreased 0.04% or $0.06 during the last trading session, striking $141.99. Approximately 4,350 shares of stock traded hands. Cooper Companies Inc (NYSE:COO) has declined 20.20% since May 1, 2015 and is downtrending. It has underperformed by 17.41% the S&P500.

The Cooper Companies, Inc. , is a global medical device company. The company has a market cap of $6.91 billion. The Firm operates through two business units, CooperVision, Inc. (CVI) and CooperSurgical, Inc. (CSI). It has 35.35 P/E ratio. CooperVision is a global maker providing products for contact lens wearers.

According to Zacks Investment Research, “The Cooper Companies, Inc., through its principal subsidiaries, develops, manufactures and markets healthcare products. CooperVision markets a range of contact lenses to correct visual defects, specializing in toric lenses that correct astigmatism. The company also markets conventional toric and spherical lenses and lenses for patients with more complex vision disorders. CooperSurgical markets diagnostic products, surgical instruments and accessories to the women’s healthcare market.” Get a free copy of the Zacks research report on Cooper Companies Inc (COO).

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