Rakuten Investment Management Inc. Acquires 35,006 Shares of The Cooper Companies, Inc. $COO

Key Points

• Rakuten Investment Management opened a position in Cooper Companies, buying 35,006 shares worth approximately $1.98 million in the third quarter.
• Analyst sentiment is mixed: the stock has a consensus Hold rating and an average price target of $68.60, with four Buy, 12 Hold and three Sell ratings.
• Cooper reported quarterly EPS of $1.15, beating estimates, while revenue of $1.07 billion fell short of consensus. The company also authorized a $3 billion share repurchase plan.

Rakuten Investment Management Inc. bought a new position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 35,006 shares of the medical device company's stock, valued at approximately $1,982,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Cooper Companies during the second quarter valued at $1,077,762,000. Generation Investment Management LLP purchased a new position in Cooper Companies in the 2nd quarter worth about $356,304,000. Jupiter Topco LLC purchased a new position in Cooper Companies in the 2nd quarter worth about $305,074,000. JANA Partners Management LP lifted its holdings in Cooper Companies by 0.5% during the 2nd quarter. JANA Partners Management LP now owns 3,582,480 shares of the medical device company's stock valued at $256,900,000 after buying an additional 17,322 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Cooper Companies by 3.1% during the 2nd quarter. Wellington Management Group LLP now owns 3,468,951 shares of the medical device company's stock valued at $248,758,000 after buying an additional 103,044 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors.

Insider Activity

In other Cooper Companies news, Director Walter Rosebrough, Jr. acquired 7,000 shares of the company's stock in a transaction dated Friday, September 11th. The shares were purchased at an average cost of $54.11 per share, for a total transaction of $378,770.00. Following the completion of the purchase, the director owned 17,000 shares in the company, valued at approximately $919,870. This trade represents a 70.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Paul Keel acquired 4,701 shares of the business's stock in a transaction that occurred on Friday, September 11th. The shares were acquired at an average cost of $53.18 per share, for a total transaction of $249,999.18. Following the completion of the acquisition, the director owned 4,701 shares of the company's stock, valued at $249,999.18. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 34,701 shares of company stock worth $1,880,039. Corporate insiders own 2.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays raised shares of Cooper Companies to a "hold" rating in a research report on Wednesday, October 7th. Zacks Research lowered shares of Cooper Companies from a "hold" rating to a "strong sell" rating in a research report on Friday, September 11th. William Blair downgraded shares of Cooper Companies from an "outperform" rating to a "market perform" rating in a research note on Thursday, September 10th. Stifel Nicolaus set a $70.00 price target on Cooper Companies and gave the company a "buy" rating in a report on Thursday, September 10th. Finally, Robert W. Baird set a $61.00 price objective on Cooper Companies and gave the stock a "neutral" rating in a research note on Thursday, September 10th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $68.60.

Cooper Companies Stock Down 1.8%

NASDAQ:COO opened at $62.36 on Friday. The Cooper Companies, Inc. has a 1-year low of $51.01 and a 1-year high of $89.83. The company has a 50-day moving average of $59.20 and a 200 day moving average of $68.61. The firm has a market cap of $11.86 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 0.73.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its earnings results on Wednesday, September 9th. The medical device company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.03. Cooper Companies had a net margin of 13.46% and a return on equity of 10.90%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm posted $0.49 EPS. The company's revenue for the quarter was up .5% on a year-over-year basis. Cooper Companies has set its Q4 2026 guidance at 1.050-1.090 EPS and its FY 2026 guidance at 4.510-4.550 EPS. As a group, research analysts anticipate that The Cooper Companies, Inc. will post 4.53 EPS for the current fiscal year.

Cooper Companies declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 9th that authorizes the company to buy back $3 billion in shares. This repurchase authorization authorizes the medical device company to repurchase up to 22.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

About Cooper Companies

CooperCompanies is a global medical device company focused on vision care and women's health. It serves customers in markets around the world through two primary businesses: CooperVision and CooperSurgical.

CooperVision develops and sells contact lenses, including products for daily wear, astigmatism, presbyopia and myopia management. Its offerings include lenses made from silicone hydrogel and other materials, as well as specialty lens options.

CooperSurgical provides products and services for women's health and fertility care.

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