The Cooper Companies, Inc. $COO Shares Purchased by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. increased its stake in The Cooper Companies by 110.3% during the second quarter, owning 7,950 shares valued at $566,000.
• The Cooper Companies has announced a $2 billion share buyback plan, indicating the board believes its shares are currently undervalued.
• The company reported quarterly earnings of $1.10 EPS, exceeding expectations, with revenue of $1.06 billion, marking a 5.7% year-over-year increase.

Praxis Investment Management Inc. lifted its stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 110.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,950 shares of the medical device company's stock after purchasing an additional 4,170 shares during the quarter. Praxis Investment Management Inc.'s holdings in Cooper Companies were worth $566,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 valued at $2,194,000 after purchasing an additional 3,440 shares during the last quarter. DAVENPORT & Co LLC increased its stake in Cooper Companies by 13.4% during the first quarter. DAVENPORT & Co LLC now owns 4,335 shares of the medical device company's stock worth $366,000 after acquiring an additional 513 shares during the last quarter. Cerity Partners LLC increased its stake in Cooper Companies by 6.6% during the first quarter. Cerity Partners LLC now owns 17,113 shares of the medical device company's stock worth $1,443,000 after acquiring an additional 1,054 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Cooper Companies by 3.0% during the first quarter. State of Alaska Department of Revenue now owns 23,390 shares of the medical device company's stock worth $1,972,000 after acquiring an additional 680 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in Cooper Companies during the first quarter worth $414,000. Institutional investors and hedge funds own 24.39% of the company's stock.

Insider Transactions at Cooper Companies

In related news, COO Gerard H. Warner III bought 1,450 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average cost of $69.23 per share, for a total transaction 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 trade represents a 8.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian G. Andrews bought 1,525 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was bought at an average price of $65.68 per share, with a total value of $100,162.00. Following the completion of the acquisition, the executive vice president owned 22,191 shares of the company's stock, valued at $1,457,504.88. This trade represents a 7.38% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 17,975 shares of company stock valued at $1,216,346 in the last 90 days. Insiders own 1.98% of the company's stock.

Cooper Companies Trading Up 0.6%

COO opened at $71.97 on Friday. The Cooper Companies, Inc. has a 52 week low of $61.78 and a 52 week high of $109.04. The business has a fifty day simple moving average of $69.51 and a 200-day simple moving average of $73.28. The firm has a market cap of $14.31 billion, a P/E ratio of 35.45, a P/E/G ratio of 1.88 and a beta of 1.02. 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 released its quarterly earnings results on Wednesday, August 27th. The medical device company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business posted $0.96 earnings per share. The company's quarterly revenue was up 5.7% on a year-over-year basis. 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, equities analysts expect that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Cooper Companies announced that its board has authorized a share buyback plan 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 plans are usually an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on COO shares. The Goldman Sachs Group set a $64.00 target price on Cooper Companies and gave the stock a "sell" rating in a research note on Wednesday, October 1st. Mizuho cut their target price on Cooper Companies from $105.00 to $90.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. BNP Paribas Exane raised Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 target price for the company in a research note on Tuesday, July 22nd. BNP Paribas raised Cooper Companies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley set a $76.00 target price on Cooper Companies and gave the stock an "equal weight" rating in a research note on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cooper Companies presently has a consensus rating of "Moderate Buy" and an average price target of $84.77.

Cooper Companies Company Profile

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.

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