Assenagon Asset Management S.A. Buys 457,938 Shares of The Cooper Companies, Inc. $COO

Key Points

• Assenagon Asset Management increased its Cooper Companies stake by 674.1%, purchasing 457,938 additional shares to hold 525,872 shares worth approximately $37.7 million.
• Several major institutional investors also expanded their positions, and institutional ownership now stands at 24.39% of the company’s outstanding stock.
• Cooper Companies beat quarterly earnings and revenue estimates, reporting $1.21 EPS and $1.08 billion in revenue, while analysts maintain a consensus “Hold” rating with an average price target of $81.36.

Assenagon Asset Management S.A. raised its stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 674.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 525,872 shares of the medical device company's stock after buying an additional 457,938 shares during the period. Assenagon Asset Management S.A. owned about 0.27% of Cooper Companies worth $37,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Cooper Companies by 332.9% in the third quarter. Wellington Management Group LLP now owns 6,184,992 shares of the medical device company's stock valued at $424,043,000 after purchasing an additional 4,756,178 shares during the period. Generation Investment Management LLP bought a new stake in Cooper Companies during the 4th quarter valued at $233,539,000. Diamond Hill Capital Management Inc. lifted its holdings in shares of Cooper Companies by 479.6% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 3,287,837 shares of the medical device company's stock worth $269,471,000 after buying an additional 2,720,594 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cooper Companies by 58.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,028,821 shares of the medical device company's stock worth $494,123,000 after buying an additional 2,231,568 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Cooper Companies by 108.2% during the 4th quarter. Franklin Resources Inc. now owns 4,022,033 shares of the medical device company's stock worth $329,646,000 after buying an additional 2,089,763 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Stock Performance

Shares of Cooper Companies stock opened at $74.23 on Friday. The company has a market capitalization of $14.48 billion, a PE ratio of 62.91, a P/E/G ratio of 1.94 and a beta of 0.83. The company has a 50-day simple moving average of $69.64 and a two-hundred day simple moving average of $71.51. The Cooper Companies, Inc. has a one year low of $58.89 and a one year high of $89.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.78 and a current ratio of 1.27.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings results on Thursday, June 4th. The medical device company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.05 billion. Cooper Companies had a net margin of 5.57% and a return on equity of 10.88%. The company's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. Cooper Companies has set its FY 2026 guidance at 4.580-4.660 EPS. Research analysts expect that The Cooper Companies, Inc. will post 4.63 EPS for the current fiscal year.

Analysts Set New Price Targets

COO has been the topic of several research reports. Piper Sandler set a $86.00 price target on Cooper Companies and gave the company an "overweight" rating in a research note on Monday, June 1st. Wells Fargo & Company reaffirmed a "sell" rating and issued a $66.00 price objective (down from $82.00) on shares of Cooper Companies in a research note on Friday, June 5th. UBS Group assumed coverage on shares of Cooper Companies in a report on Tuesday, July 28th. They set a "neutral" rating and a $75.00 target price on the stock. BNP Paribas Exane reduced their price target on shares of Cooper Companies from $95.00 to $92.00 and set an "outperform" rating for the company in a report on Monday, June 8th. Finally, The Goldman Sachs Group set a $61.00 price target on shares of Cooper Companies in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $81.36.

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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