Millennium Management LLC Increases Stake in The Cooper Companies, Inc. $COO

Key Points

• Millennium Management LLC increased its stake in The Cooper Companies, Inc. by 36% in the 1st quarter, acquiring an additional 682,166 shares, bringing its total ownership to 2,577,416 shares valued at $217.4 million.
• Multiple hedge funds including JPMorgan Chase & Co. and Goldman Sachs have also raised their positions in The Cooper Companies, highlighting growing institutional interest in the firm.
• Despite mixed analyst ratings and reduced price targets from various firms, The Cooper Companies reported strong quarterly earnings, surpassing consensus estimates with a revenue of $1.06 billion.

Millennium Management LLC raised its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 36.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,577,416 shares of the medical device company's stock after acquiring an additional 682,166 shares during the period. Millennium Management LLC owned approximately 1.29% of Cooper Companies worth $217,405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of COO. Goldman Sachs Group Inc. lifted its stake 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 valued at $399,340,000 after acquiring an additional 686,751 shares during the period. Nuveen LLC bought a new position in Cooper Companies during the 1st quarter valued at about $55,367,000. Findlay Park Partners LLP bought a new position in Cooper Companies during the 1st quarter valued at about $37,134,000. Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $333,595,000 after purchasing an additional 425,400 shares during the last quarter. Finally, Hawk Ridge Capital Management LP purchased a new stake in shares of Cooper Companies during the 1st quarter valued at about $35,756,000. Institutional investors own 24.39% of the company's stock.

Cooper Companies Stock Performance

Cooper Companies stock traded down $0.49 during midday trading on Wednesday, hitting $67.76. The stock had a trading volume of 889,961 shares, compared to its average volume of 2,294,528. The firm's fifty day moving average is $71.85 and its two-hundred day moving average is $76.37. The company has a market capitalization of $13.47 billion, a PE ratio of 33.38, a P/E/G ratio of 1.74 and a beta of 0.97. The Cooper Companies, Inc. has a 52-week low of $61.78 and a 52-week high of $112.38. The company has a current ratio of 2.12, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29.

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. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. Cooper Companies had a net margin of 10.08% and a return on equity of 9.82%. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm 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, research analysts forecast that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Insider Activity at Cooper Companies

In related news, CEO Albert G. White III acquired 10,000 shares of the business's stock in a transaction on Friday, September 5th. The stock was acquired at an average cost of $68.39 per share, with a total value of $683,900.00. Following the acquisition, the chief executive officer directly owned 226,151 shares in the company, valued at $15,466,466.89. This represents a 4.63% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Gerard H. Warner III acquired 1,450 shares of the business's stock in a transaction on Friday, September 5th. The shares were bought at an average cost of $69.23 per share, with a total value of $100,383.50. Following the completion of the acquisition, the chief operating officer owned 18,319 shares in the company, valued at approximately $1,268,224.37. This represents a 8.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 15,975 shares of company stock valued at $1,079,566. Corporate insiders own 1.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Cooper Companies from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, August 28th. Wall Street Zen lowered shares of Cooper Companies from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. reduced their price target on shares of Cooper Companies from $76.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, August 28th. Robert W. Baird reduced their price target on shares of Cooper Companies from $97.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, August 28th. Finally, Mizuho reduced their price target on shares of Cooper Companies from $105.00 to $90.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $86.64.

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.