Share Buyback Program Approved by Cooper Companies (NASDAQ:COO) Board of Directors

Key Points

• Cooper Companies expanded its share-repurchase authorization to $3 billion, allowing the company to buy back up to 22.7% of outstanding shares through open-market purchases.
• Fiscal Q3 adjusted EPS of $1.15 exceeded expectations, while revenue of approximately $1.07 billion fell short of consensus; free cash flow rose 66% to $273 million.
• Management’s fiscal 2026 EPS guidance of $4.51–$4.55 is below analysts’ $4.63 consensus, and the strategic review will retain CooperSurgical after acquisition offers were deemed insufficient.

Cooper Companies (NASDAQ:COO - Get Free Report) announced that its Board of Directors has initiated a share buyback program on Wednesday, September 9th, RTT News reports. The company plans to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the medical device company to reacquire up to 22.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on COO. KeyCorp reaffirmed a "sector weight" rating on shares of Cooper Companies in a report on Friday, June 5th. Stifel Nicolaus reduced their target price on Cooper Companies from $95.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, June 5th. JPMorgan Chase & Co. decreased their price target on Cooper Companies from $80.00 to $71.00 and set a "neutral" rating on the stock in a research report on Friday, June 5th. The Goldman Sachs Group set a $61.00 price target on Cooper Companies in a research note on Wednesday, May 27th. Finally, Needham & Company LLC cut their price objective on shares of Cooper Companies from $101.00 to $86.00 and set a "buy" rating for the company in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $81.64.

Cooper Companies Price Performance

Shares of COO traded down $4.21 during midday trading on Wednesday, hitting $63.48. The company's stock had a trading volume of 9,400,604 shares, compared to its average volume of 1,590,605. Cooper Companies has a one year low of $58.89 and a one year high of $89.83. The company's fifty day simple moving average is $72.42 and its two-hundred day simple moving average is $70.02. The company has a quick ratio of 0.78, a current ratio of 1.27 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of 53.80, a price-to-earnings-growth ratio of 1.77 and a beta of 0.82.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its quarterly earnings results on Wednesday, September 9th. The medical device company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.03. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. Cooper Companies had a net margin of 5.57% and a return on equity of 10.88%. The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $0.49 EPS. Cooper Companies has set its Q4 2026 guidance at 1.050-1.090 EPS and its FY 2026 guidance at 4.510-4.550 EPS. As a group, equities analysts expect that Cooper Companies will post 4.63 earnings per share for the current fiscal year.

More Cooper Companies News

Here are the key news stories impacting Cooper Companies this week:

• Positive Sentiment: CooperCompanies reported fiscal Q3 non-GAAP EPS of $1.15, exceeding the $1.11-$1.12 analyst consensus. Revenue reached approximately $1.066 billion, while GAAP EPS was $2.24, helped by a $307.2 million discrete tax benefit from the favorable completion of a U.K. tax examination. CooperCompanies Announces Third Quarter 2026 Results
• Positive Sentiment: Cash generation and capital returns were strong: free cash flow increased 66% to $273 million, and the company repurchased $339.1 million of stock during the quarter. The board also expanded its share-repurchase authorization from $2 billion to $3 billion. CooperCompanies Completes Strategic Review
• Neutral Sentiment: CooperSurgical revenue rose 2% on a reported basis and 3% organically, but CooperVision revenue was unchanged year over year. Overall quarterly revenue growth was only about 1% and fell short of the roughly $1.10 billion consensus estimate.
• Negative Sentiment: Management guided fiscal 2026 non-GAAP EPS to $4.51-$4.55, below the $4.63 analyst consensus, with revenue guidance of $4.229-$4.252 billion. Fourth-quarter EPS guidance of $1.05-$1.09 was also well below the approximately $1.20 expected by analysts. The Cooper Companies Q3 Earnings Metrics
• Negative Sentiment: The strategic review concluded that CooperSurgical will be retained because received offers were not sufficiently attractive. Investors may view this as a missed opportunity to unlock value, particularly amid valuation pressure from a new non-hormonal IUD competitor and fertility-related litigation costs. CooperCompanies Strategic Review and Buyback

About Cooper Companies

Cooper Companies, Inc NASDAQ: COO is a global medical device company headquartered in San Ramon, California. Founded in 1958, the company has grown through strategic acquisitions and organic development to become a major provider of vision care and women's health products. Cooper Companies operates through two primary business segments—CooperVision and CooperSurgical—each serving specialized markets within the healthcare industry.

The CooperVision segment develops, manufactures and markets a broad range of soft contact lenses, as well as related accessories.

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