Cooper Companies Inc (NYSE:COO) Shares Drop After Poor Fiscal 4Q Earnings


Cooper Companies Inc (NYSE:COO) shares are down big in early trading today after the company reported their fiscal fourth quarter earnings after the market closed yesterday. Cooper Companies Inc (NYSE:COO) reported an EPS of $2.00, well under the $2.11 EPS that analysts had been expecting. To make matters even worse, the company’s fiscal first quarter guidance came in well under consensus estimates as well. While analysts had expected $1.93 per share, the company is now guiding towards just $1.52 to $1.62 per share. Their full-year 2016 guidance also came in well below consensus estimates.

The stock has fallen 8.43% or $11.98 following this negative news, hitting $130.07 per share. About 2.36 million shares traded hands or 427.09% up from the average. COO has declined 20.20% since May 1, 2015 and is downtrending. It has underperformed the S&P500 by 20.00%.

From a total of 5 analysts covering Cooper (NYSE:COO) stock, 3 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 60% of the ratings are positive. The highest target price is $212.50 while the lowest target price is $171. The mean of all analyst targets is $187.70 which is 44.31% above today’s ($130.07) 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 a “Market Perform” rating. Piper Jaffray maintained COO stock in a recent report from September 4 with a “Buy” rating. Finally, KeyBanc Capital Markets upgraded the stock to a “Sector Weight” rating in a report they issued on an August 26.

The institutional sentiment decreased to 0.92 in Q2 2015. It’s down 0.33, from 1.25 in 2015Q1. The ratio turned negative, as 37 funds sold all their Cooper Companies Inc shares they owned while 129 reduced their positions. 32 funds bought stakes while 120 increased their total positions. Institutions now own 47.13 million shares which is 48.26% less than the previous share count of 91.10 million in 2015Q1.

Blue Jay Capital Management Llc holds 4.85% of its total portfolio in Cooper Companies Inc, equating to 101,230 shares. Conatus Capital Management Lp owns 399,085 shares representing 4.33% of their total US portfolio. Moreover, Taurus Asset Management Llc has 2.65% of their total portfolio invested in the company, equating to 81,935 shares. The Maryland-based Torray Llc has a total of 2.5% of their portfolio invested in the stock. Pura Vida Investments Llc, a New York-based fund reported 25,000 shares owned.

Since March 10, 2015, the stock had 0 insider buys, and 4 selling transactions for a total of $4.54 million in net activity. Rubenstein Allan E sold 294 shares worth $44,100. Rosenberg Steven sold 17,500 shares worth $2.62M. Matz Gregory W sold 10,000 shares worth $1.76M. Weiss Robert S sold 67,500 shares worth $12.59M. The insider Bender A Thomas sold 7,000 shares worth $1.30 million.

The Cooper Companies, Inc. , is a global medical device company. The company has a market cap of $6.95 billion. The Firm operates through two business units, CooperVision, Inc. (CVI) and CooperSurgical, Inc. (CSI). It has 32.38 P/E ratio. CooperVision is a global maker providing products for contact lens wearers.