Mutual of America Capital Management LLC Acquires 20,261 Shares of The Cooper Companies, Inc. $COO

Key Points

• Mutual of America Capital Management LLC increased its holdings in The Cooper Companies by 87.4%, acquiring an additional 20,261 shares during the second quarter.
• The Cooper Companies reported quarterly earnings of $1.10 per share, beating analysts' estimates by $0.03, with revenue of $1.06 billion.
• The company has authorized a stock buyback program of $2.00 billion, allowing it to repurchase up to 15.4% of its outstanding shares, indicating management's belief that the stock is undervalued.

Mutual of America Capital Management LLC increased its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 87.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,436 shares of the medical device company's stock after acquiring an additional 20,261 shares during the period. Mutual of America Capital Management LLC's holdings in Cooper Companies were worth $3,091,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of COO. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Cooper Companies during the first quarter worth about $479,000. Asset Management One Co. Ltd. boosted its stake in Cooper Companies by 15.2% during the first quarter. Asset Management One Co. Ltd. now owns 85,567 shares of the medical device company's stock worth $7,218,000 after acquiring an additional 11,320 shares in the last quarter. Lecap Asset Management Ltd. boosted its stake in Cooper Companies by 72.8% during the first quarter. Lecap Asset Management Ltd. now owns 20,662 shares of the medical device company's stock worth $1,743,000 after acquiring an additional 8,707 shares in the last quarter. Diversified Trust Co boosted its stake in Cooper Companies by 12.5% during the first quarter. Diversified Trust Co now owns 10,229 shares of the medical device company's stock worth $863,000 after acquiring an additional 1,135 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cooper Companies by 15.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,189 shares of the medical device company's stock worth $2,194,000 after buying an additional 3,440 shares in the last quarter. Institutional investors own 24.39% of the company's stock.

Cooper Companies Stock Up 0.1%

Shares of Cooper Companies stock opened at $74.52 on Friday. The company has a market cap of $14.82 billion, a price-to-earnings ratio of 36.71, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company's 50 day moving average is $69.67 and its 200 day moving average is $73.22. The Cooper Companies, Inc. has a twelve month low of $61.78 and a twelve month high of $109.04. The company has a quick ratio of 1.24, a current ratio of 2.12 and a debt-to-equity ratio of 0.29.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The medical device company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.03. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. Cooper Companies had a net margin of 10.08% and a return on equity of 9.82%. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 earnings per share. Cooper Companies has set its Q4 2025 guidance at 1.100-1.140 EPS. FY 2025 guidance at 4.080-4.120 EPS. Research analysts anticipate that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Cooper Companies declared that its board has authorized a stock buyback program on Wednesday, September 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the medical device company to purchase up to 15.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Activity at Cooper Companies

In related news, COO Gerard H. Warner III acquired 1,450 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were bought at an average price of $69.23 per share, for a total transaction of $100,383.50. Following the completion of the transaction, the chief operating officer directly owned 18,319 shares in the company, valued at approximately $1,268,224.37. This trade represents a 8.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian G. Andrews purchased 1,525 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was acquired at an average price of $65.68 per share, for a total transaction of $100,162.00. Following the completion of the transaction, the executive vice president directly owned 22,191 shares of the company's stock, valued at approximately $1,457,504.88. This trade represents a 7.38% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 17,975 shares of company stock valued at $1,216,346 over the last quarter. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COO has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Cooper Companies from $76.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, August 28th. Wells Fargo & Company dropped their target price on shares of Cooper Companies from $93.00 to $72.00 and set an "overweight" rating on the stock in a research note on Thursday, August 28th. Mizuho dropped their target price on shares of Cooper Companies from $105.00 to $90.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Needham & Company LLC reiterated a "buy" rating and issued a $94.00 target price on shares of Cooper Companies in a research note on Thursday, August 28th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Cooper Companies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cooper Companies presently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

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.

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.