CooperCompanies (COO) Stock Trades Up, Here Is Why
Shares of medical device company CooperCompanies (NASDAQ:COO) jumped 3.4% in the morning session after analysts at BNP Paribas Exane upgraded the stock.
The firm raised its rating on CooperCompanies from "neutral" to "outperform" and increased its price target to $92 from $76. This new target suggests a potential upside of nearly 29% from the stock's previous closing price. An analyst upgrade from a notable financial institution can often boost investor confidence by signaling a positive outlook on the company's future performance.
After the initial pop the shares cooled down to $72.78, up 2% from previous close.
Is now the time to buy CooperCompanies? Access our full analysis report here, it's free.
What Is The Market Telling Us
CooperCompanies's shares are not very volatile and have only had 8 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was about 2 months ago when the stock dropped 15% on the news that the company reported underwhelming first-quarter 2025 results (fiscal Q2), with sales exceeding expectations by a whisker while organic sales growth guidance for the full year was lowered.
Management called out "softening in two of its growth markets, contact lenses and fertility." On a brighter note, COO raised its full-year revenue and EPS guidance, off the back of the modest beat. In addition, its organic revenue and EPS outperformed Wall Street's estimates during the quarter. Overall, this print had some key positives. Investors were likely hoping for more.
CooperCompanies is down 19.7% since the beginning of the year, and at $72.78 per share, it is trading 34.6% below its 52-week high of $111.23 from September 2024. Investors who bought $1,000 worth of CooperCompanies's shares 5 years ago would now be looking at an investment worth $1,005.
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