BlackRock Inc. Acquires New Position in The Cooper Companies, Inc. $COO

BlackRock Inc. bought a new stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,029,453 shares of the medical device company's stock, valued at approximately $1,077,762,000. BlackRock Inc. owned approximately 7.71% of Cooper Companies as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in 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 buying an additional 4,756,178 shares during the period. Generation Investment Management LLP purchased a new position in shares of Cooper Companies in the fourth quarter valued at $233,539,000. Diamond Hill Capital Management Inc. grew its holdings in Cooper Companies by 479.6% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 3,287,837 shares of the medical device company's stock valued at $269,471,000 after purchasing an additional 2,720,594 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Cooper Companies by 58.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,028,821 shares of the medical device company's stock valued at $494,123,000 after purchasing an additional 2,231,568 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in 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 during the period. Hedge funds and other institutional investors own 24.39% of the company's stock.

Cooper Companies Stock Up 0.1%

COO opened at $76.22 on Friday. The company has a market capitalization of $14.87 billion, a P/E ratio of 64.59, a P/E/G ratio of 1.99 and a beta of 0.83. The firm's fifty day moving average price is $71.93 and its two-hundred day moving average price is $71.16. The Cooper Companies, Inc. has a fifty-two week low of $58.89 and a fifty-two week high of $89.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.27 and a quick ratio of 0.78.

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

Wall Street Analyst Weigh In

A number of research firms have commented on COO. Weiss Ratings downgraded shares of Cooper Companies from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, June 8th. Stifel Nicolaus decreased their target price on shares of Cooper Companies from $95.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, June 5th. KeyCorp reaffirmed a "sector weight" rating on shares of Cooper Companies in a report on Friday, June 5th. JPMorgan Chase & Co. cut their price objective on Cooper Companies from $80.00 to $71.00 and set a "neutral" rating for the company in a report on Friday, June 5th. Finally, Mizuho set a $85.00 price target on shares of Cooper Companies and gave the stock an "outperform" rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Cooper Companies presently has a consensus rating of "Hold" and a consensus target price of $81.64.

Cooper Companies Company Profile

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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