Alecta Tjanstepension Omsesidigt Has $96.03 Million Stock Holdings in The Cooper Companies, Inc. $COO

Key Points

• Alecta Tjanstepension Omsesidigt increased its stake in The Cooper Companies by 60.7% in Q2, acquiring 509,800 shares, bringing its total ownership to 1,349,500 shares worth approximately $96 million.
• The Cooper Companies reported a 5.7% year-over-year revenue increase with Q3 earnings of $1.10 per share, surpassing analyst estimates.
• The company announced a $2 billion stock buyback plan, indicating the board's belief that the shares are undervalued, allowing for the repurchase of up to 15.4% of its stock.

Alecta Tjanstepension Omsesidigt lifted its holdings in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 60.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,349,500 shares of the medical device company's stock after buying an additional 509,800 shares during the quarter. Alecta Tjanstepension Omsesidigt owned about 0.67% of Cooper Companies worth $96,030,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of Cooper Companies by 3.4% in the first quarter. JPMorgan Chase & Co. now owns 5,177,008 shares of the medical device company's stock valued at $436,681,000 after buying an additional 172,485 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Cooper Companies by 17.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,734,327 shares of the medical device company's stock worth $399,340,000 after purchasing an additional 686,751 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Cooper Companies by 12.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,954,877 shares of the medical device company's stock worth $333,595,000 after purchasing an additional 425,400 shares during the last quarter. Millennium Management LLC raised its holdings in Cooper Companies by 36.0% during the 1st quarter. Millennium Management LLC now owns 2,577,416 shares of the medical device company's stock worth $217,405,000 after purchasing an additional 682,166 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cooper Companies by 15.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,121,835 shares of the medical device company's stock worth $178,977,000 after purchasing an additional 284,943 shares during the last quarter. 24.39% of the stock is owned by institutional investors.

Cooper Companies Trading Up 1.4%

Shares of COO stock traded up $0.95 on Friday, reaching $68.17. The company had a trading volume of 5,454,136 shares, compared to its average volume of 3,366,609. The company has a current ratio of 2.12, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29. The stock has a market cap of $13.55 billion, a PE ratio of 33.58, a PEG ratio of 1.76 and a beta of 0.97. The company has a 50-day moving average of $70.66 and a 200-day moving average of $75.15. The Cooper Companies, Inc. has a 12 month low of $61.78 and a 12 month high of $111.44.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The medical device company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.06 billion. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.Cooper Companies's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. Cooper Companies has set its Q4 2025 guidance at 1.100-1.140 EPS. FY 2025 guidance at 4.080-4.120 EPS. On average, equities analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Cooper Companies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, September 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the medical device company to repurchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Cooper Companies news, EVP Brian G. Andrews acquired 1,525 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was acquired at an average cost of $65.68 per share, for a total transaction of $100,162.00. Following the transaction, the executive vice president owned 22,191 shares of the company's stock, valued at $1,457,504.88. This trade represents a 7.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Daniel G. Mcbride acquired 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was acquired at an average price of $65.04 per share, with a total value of $195,120.00. Following the completion of the transaction, the chief operating officer directly owned 63,120 shares in the company, valued at $4,105,324.80. This trade represents a 4.99% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,975 shares of company stock valued at $1,079,566 over the last 90 days. 1.98% of the stock is owned by company insiders.

Analyst Ratings Changes

COO has been the subject of several recent research reports. Robert W. Baird dropped their price objective on Cooper Companies from $97.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, August 28th. Loop Capital set a $100.00 price objective on Cooper Companies in a report on Tuesday, June 17th. Wells Fargo & Company dropped their price objective on Cooper Companies from $93.00 to $72.00 and set an "overweight" rating for the company in a report on Thursday, August 28th. Piper Sandler dropped their price objective on Cooper Companies from $105.00 to $83.00 and set an "overweight" rating for the company in a report on Thursday, August 28th. Finally, Mizuho dropped their price objective on Cooper Companies from $105.00 to $90.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $86.64.

Cooper Companies Company Profile

The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.