The Cooper Companies, Inc. $COO Shares Newly Bought by CenterBook Partners LP

Key Points

• CenterBook Partners LP initiated a position in Cooper Companies, buying 28,031 shares valued at about $1.585 million in the third quarter. Several other institutional investors also reported purchases or increased holdings.
• Cooper reported quarterly EPS of $1.15, topping the $1.12 consensus estimate, while revenue of $1.07 billion fell short of expectations. The company also authorized a $3 billion share-repurchase plan, covering up to 22.7% of outstanding shares.
• Analyst sentiment is mixed: MarketBeat reports an average “Hold” rating and a $68.60 consensus price target. Two company directors also bought shares in September.

CenterBook Partners LP acquired a new position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 28,031 shares of the medical device company's stock, valued at approximately $1,585,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Algert Global LLC purchased a new position in shares of Cooper Companies during the 2nd quarter worth approximately $7,655,000. Bank of America Corp DE purchased a new position in Cooper Companies during the second quarter valued at $144,125,000. BlackRock Inc. bought a new stake in Cooper Companies in the second quarter worth $1,077,762,000. National Pension Service boosted its holdings in Cooper Companies by 9,314.0% in the second quarter. National Pension Service now owns 526,149 shares of the medical device company's stock worth $37,730,000 after acquiring an additional 520,560 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Cooper Companies by 108.2% in the second quarter. Arizona State Retirement System now owns 110,873 shares of the medical device company's stock worth $7,951,000 after acquiring an additional 57,621 shares in the last quarter. Hedge funds and other institutional investors own 24.39% of the company's stock.

Cooper Companies Price Performance

Shares of NASDAQ COO opened at $63.93 on Tuesday. The Cooper Companies, Inc. has a twelve month low of $51.01 and a twelve month high of $89.83. The firm has a market cap of $12.16 billion, a P/E ratio of 21.82, a PEG ratio of 2.53 and a beta of 0.83. The company has a 50 day moving average of $59.06 and a 200 day moving average of $68.52. The company has a quick ratio of 0.73, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings data on Wednesday, September 9th. The medical device company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. Cooper Companies had a return on equity of 10.90% and a net margin of 13.46%. The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same period in the prior year, the firm posted $0.49 EPS. The firm's quarterly revenue 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 expect that The Cooper Companies, Inc. will post 4.53 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of research firms have recently commented on COO. Bank of America cut Cooper Companies from a "buy" rating to a "neutral" rating and cut their target price for the stock from $80.00 to $65.00 in a research note on Thursday, September 10th. Stifel Nicolaus set a $70.00 price target on Cooper Companies and gave the stock a "buy" rating in a research report on Thursday, September 10th. Mizuho set a $75.00 price target on shares of Cooper Companies and gave the stock an "outperform" rating in a research note on Thursday, September 10th. Citigroup reiterated a "neutral" rating and issued a $60.00 price target (down from $80.00) on shares of Cooper Companies in a research note on Thursday, September 10th. Finally, Needham & Company LLC cut their price objective on shares of Cooper Companies from $86.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, September 10th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Cooper Companies presently has an average rating of "Hold" and a consensus price target of $68.60.

Insider Activity

In other Cooper Companies news, Director Walter Rosebrough, Jr. purchased 7,000 shares of the stock in a transaction dated Friday, September 11th. The shares were purchased at an average cost of $54.11 per share, with a total value of $378,770.00. Following the completion of the acquisition, the director directly owned 17,000 shares in the company, valued at $919,870. This trade represents a 70.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Kurzius acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, September 14th. The shares were acquired at an average cost of $53.91 per share, for a total transaction of $539,100.00. Following the completion of the transaction, the director directly owned 21,099 shares of the company's stock, valued at $1,137,447.09. The trade was a 90.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 34,701 shares of company stock valued at $1,880,039 over the last ninety days. 2.08% of the stock is currently owned by corporate insiders.

Cooper Companies Company Profile

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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