Swedbank AB Sells 360,411 Shares of The Cooper Companies, Inc. $COO

Key Points

• Swedbank AB reduced its stake in The Cooper Companies by 23.3%, selling 360,411 shares in the second quarter, resulting in holdings of around 1.19 million shares valued at approximately $84.6 million.
• CEO Albert G. White III recently purchased 10,000 shares at an average price of $68.39, increasing his ownership by 4.63% and bringing his total stake to a value of approximately $15.5 million.
• The Cooper Companies has initiated a $2 billion share buyback plan, allowing the company to repurchase up to 15.4% of its stock, indicating management's belief that the shares are currently undervalued.

Swedbank AB lessened its holdings in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 23.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,188,773 shares of the medical device company's stock after selling 360,411 shares during the quarter. Swedbank AB owned 0.59% of Cooper Companies worth $84,593,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. UMB Bank n.a. boosted its position in shares of Cooper Companies by 16.7% in the first quarter. UMB Bank n.a. now owns 902 shares of the medical device company's stock valued at $76,000 after acquiring an additional 129 shares during the period. Horizon Investments LLC boosted its position in shares of Cooper Companies by 5.0% in the first quarter. Horizon Investments LLC now owns 2,859 shares of the medical device company's stock valued at $241,000 after acquiring an additional 136 shares during the period. Axxcess Wealth Management LLC boosted its position in shares of Cooper Companies by 1.9% in the first quarter. Axxcess Wealth Management LLC now owns 7,382 shares of the medical device company's stock valued at $623,000 after acquiring an additional 140 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its position in shares of Cooper Companies by 1.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 8,675 shares of the medical device company's stock valued at $732,000 after acquiring an additional 157 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Cooper Companies by 16.3% in the first quarter. Exchange Traded Concepts LLC now owns 1,502 shares of the medical device company's stock valued at $127,000 after acquiring an additional 210 shares during the period. Institutional investors own 24.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on COO shares. Robert W. Baird cut their price objective 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. Mizuho dropped their target price on shares of Cooper Companies from $105.00 to $90.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. BNP Paribas raised shares of Cooper Companies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. UBS Group raised shares of Cooper Companies to a "buy" rating in a report on Tuesday, June 17th. Finally, Wells Fargo & Company dropped their target price on shares of Cooper Companies from $93.00 to $72.00 and set an "overweight" rating for the company in a report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $86.64.

Insider Activity

In other news, COO Daniel G. Mcbride bought 3,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was acquired at an average price of $65.04 per share, with a total value of $195,120.00. Following the transaction, the chief operating officer owned 63,120 shares of the company's stock, valued at $4,105,324.80. This trade represents a 4.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian G. Andrews bought 1,525 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were purchased at an average cost of $65.68 per share, with a total value of $100,162.00. Following the transaction, the executive vice president directly owned 22,191 shares in the company, 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. Over the last quarter, insiders acquired 15,975 shares of company stock worth $1,079,566. 1.98% of the stock is owned by company insiders.

Cooper Companies Trading Down 0.2%

Shares of Cooper Companies stock traded down $0.17 on Monday, hitting $68.00. The stock had a trading volume of 2,880,009 shares, compared to its average volume of 3,539,709. The stock has a 50 day moving average of $70.54 and a 200 day moving average of $74.81. The Cooper Companies, Inc. has a twelve month low of $61.78 and a twelve month high of $111.44. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.24 and a current ratio of 2.12. The firm has a market capitalization of $13.52 billion, a P/E ratio of 33.50, a PEG ratio of 1.79 and a beta of 0.97.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The medical device company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.The firm's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. Sell-side analysts expect that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

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

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.