Allianz Asset Management GmbH Sells 37,227 Shares of The Cooper Companies, Inc. $COO

Key Points

• Allianz Asset Management GmbH has reduced its stake in The Cooper Companies, Inc. by 20.0%, selling 37,227 shares during the second quarter, leaving it with approximately 148,754 shares valued at around $10.6 million.
• Analysts have mixed ratings for Cooper Companies, with a consensus price target of $84.77, where one analyst rates it as Strong Buy and others offer various ratings from Buy to Sell.
• Cooper Companies has authorized a $2.00 billion stock buyback program, allowing the purchase of up to 15.4% of its outstanding shares, signaling confidence in its stock value.

Allianz Asset Management GmbH lessened its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 20.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,754 shares of the medical device company's stock after selling 37,227 shares during the quarter. Allianz Asset Management GmbH owned about 0.07% of Cooper Companies worth $10,585,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cooper Companies by 15.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,189 shares of the medical device company's stock valued at $2,194,000 after acquiring an additional 3,440 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Cooper Companies by 13.4% in the 1st quarter. DAVENPORT & Co LLC now owns 4,335 shares of the medical device company's stock worth $366,000 after buying an additional 513 shares during the last quarter. Cerity Partners LLC lifted its position in Cooper Companies by 6.6% in the 1st quarter. Cerity Partners LLC now owns 17,113 shares of the medical device company's stock worth $1,443,000 after buying an additional 1,054 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Cooper Companies by 3.0% in the 1st quarter. State of Alaska Department of Revenue now owns 23,390 shares of the medical device company's stock worth $1,972,000 after buying an additional 680 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in Cooper Companies in the 1st quarter worth approximately $414,000. Institutional investors own 24.39% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on COO shares. The Goldman Sachs Group set a $64.00 target price on Cooper Companies and gave the stock a "sell" rating in a research report on Wednesday, October 1st. Barclays started coverage on Cooper Companies in a research report on Monday, October 13th. They issued an "overweight" rating and a $85.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $94.00 target price on shares of Cooper Companies in a research report on Thursday, August 28th. Morgan Stanley set a $76.00 price target on Cooper Companies and gave the stock an "equal weight" rating in a research note on Thursday, August 28th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Cooper Companies in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

Insider Activity

In other news, COO Daniel G. Mcbride purchased 3,000 shares of Cooper Companies stock in a transaction that occurred on Tuesday, September 2nd. The shares were bought at an average cost of $65.04 per share, with a total value of $195,120.00. Following the completion of the purchase, the chief operating officer directly owned 63,120 shares in the company, valued at approximately $4,105,324.80. This trade represents a 4.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Gerard H. Warner III purchased 1,450 shares of Cooper Companies stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average cost of $69.23 per share, for a total transaction of $100,383.50. Following the completion of the purchase, the chief operating officer owned 18,319 shares of the company's stock, valued at $1,268,224.37. This trade represents a 8.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 17,975 shares of company stock valued at $1,216,346. 1.98% of the stock is owned by insiders.

Cooper Companies Price Performance

COO opened at $75.00 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.24 and a current ratio of 2.12. The Cooper Companies, Inc. has a 52-week low of $61.78 and a 52-week high of $109.04. The stock has a market capitalization of $14.91 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02. The stock's 50 day moving average price is $69.64 and its 200-day moving average price is $73.21.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its earnings results on Wednesday, August 27th. The medical device company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.03. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. The business's revenue was up 5.7% compared to the same quarter last year. 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 research analysts predict that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Cooper Companies announced that its Board of Directors has authorized a stock buyback program on Wednesday, September 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the medical device company to purchase up to 15.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.