Covea Finance Has $4.63 Million Holdings in The Cooper Companies, Inc. $COO

Key Points

• Covea Finance increased its holdings in The Cooper Companies, Inc. by 41.3% in Q2, now owning 65,000 shares worth approximately $4.63 million.
• The Cooper Companies reported $1.10 earnings per share for the last quarter, surpassing estimates, with a revenue of $1.06 billion and a year-over-year growth of 5.7%.
• The company initiated a $2 billion stock buyback program, indicating that the board believes its stock is undervalued.

Covea Finance increased its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 41.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,000 shares of the medical device company's stock after buying an additional 19,000 shares during the quarter. Covea Finance's holdings in Cooper Companies were worth $4,625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mitchell & Pahl Private Wealth LLC lifted its position in shares of Cooper Companies by 12.0% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 9,716 shares of the medical device company's stock worth $691,000 after buying an additional 1,041 shares during the period. Diversified Trust Co raised its position in Cooper Companies by 20.8% in the 2nd quarter. Diversified Trust Co now owns 12,360 shares of the medical device company's stock valued at $880,000 after purchasing an additional 2,131 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Cooper Companies by 19.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 240,446 shares of the medical device company's stock valued at $17,110,000 after purchasing an additional 38,457 shares during the last quarter. IFM Investors Pty Ltd raised its position in Cooper Companies by 6.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 41,609 shares of the medical device company's stock valued at $2,961,000 after purchasing an additional 2,671 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in Cooper Companies by 2.5% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 73,508 shares of the medical device company's stock valued at $5,231,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors own 24.39% of the company's stock.

Cooper Companies Stock Performance

Shares of Cooper Companies stock opened at $68.00 on Tuesday. The firm has a market cap of $13.52 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 1.79 and a beta of 0.97. The stock's 50-day moving average is $70.54 and its 200-day moving average is $74.81. The Cooper Companies, Inc. has a one year low of $61.78 and a one year high of $111.44. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.12 and a quick ratio of 1.24.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its earnings results on Wednesday, August 27th. The medical device company reported $1.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. Cooper Companies's revenue was up 5.7% on a year-over-year basis. Cooper Companies has set its Q4 2025 guidance at 1.100-1.140 EPS. FY 2025 guidance at 4.080-4.120 EPS. Equities analysts predict that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Cooper Companies announced that its board has initiated a stock repurchase program on Wednesday, September 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical device company to buy up to 15.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COO. Needham & Company LLC reiterated a "buy" rating and issued a $94.00 price objective on shares of Cooper Companies in a research report on Thursday, August 28th. Piper Sandler cut their price objective on Cooper Companies from $105.00 to $83.00 and set an "overweight" rating for the company in a research report on Thursday, August 28th. BNP Paribas upgraded Cooper Companies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Mizuho cut their price objective on Cooper Companies from $105.00 to $90.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Finally, Wall Street Zen downgraded Cooper Companies from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. One investment 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 company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $86.64.

Insider Buying and Selling

In related news, COO Daniel G. Mcbride bought 3,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were acquired at an average price of $65.04 per share, for a total transaction of $195,120.00. Following the completion of the acquisition, the chief operating officer owned 63,120 shares of the company's stock, valued at approximately $4,105,324.80. The trade was a 4.99% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Albert G. White III bought 10,000 shares of the company's stock in a transaction that occurred on Friday, September 5th. The shares were bought at an average price of $68.39 per share, for a total transaction of $683,900.00. Following the acquisition, the chief executive officer directly owned 226,151 shares of the company's stock, valued at $15,466,466.89. This represents a 4.63% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 15,975 shares of company stock worth $1,079,566. Insiders own 1.98% of the company's stock.

About Cooper Companies

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.

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