The Cooper Companies, Inc. $COO Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its Cooper Companies stake by 12.4% in the third quarter, selling 65,313 shares and retaining 460,559 shares valued at approximately $26 million.
• Cooper Companies reported quarterly EPS of $1.15, exceeding estimates, while revenue reached $1.07 billion, slightly below expectations. The company also authorized a $3 billion stock buyback, covering up to 22.7% of outstanding shares.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $68.60; the stock recently traded at $57.94. Meanwhile, company directors purchased shares, contributing to $1.88 million in insider buying over the past three months.

Assenagon Asset Management S.A. lessened its stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 12.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 460,559 shares of the medical device company's stock after selling 65,313 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.24% of Cooper Companies worth $26,035,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Algert Global LLC acquired a new position in Cooper Companies in the 2nd quarter valued at $7,655,000. Bank of America Corp DE purchased a new position in Cooper Companies in the 2nd quarter valued at $144,125,000. BlackRock Inc. acquired a new stake in Cooper Companies during the 2nd quarter worth $1,077,762,000. National Pension Service boosted its stake in Cooper Companies by 9,314.0% during the 2nd quarter. National Pension Service now owns 526,149 shares of the medical device company's stock worth $37,730,000 after purchasing an additional 520,560 shares during the last quarter. Finally, Nykredit A S acquired a new stake in Cooper Companies during the 2nd quarter worth $2,070,000. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Cooper Companies Price Performance

Shares of NASDAQ:COO opened at $57.94 on Monday. The business has a 50-day moving average price of $63.46 and a 200 day moving average price of $66.12. The company has a current ratio of 1.22, a quick ratio of 0.73 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.36 and a beta of 0.83. The Cooper Companies, Inc. has a 12-month low of $51.01 and a 12-month high of $89.83.

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 company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. Cooper Companies's revenue for the quarter was up .5% compared to the same quarter last year. 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. Sell-side analysts expect that The Cooper Companies, Inc. will post 4.53 EPS for the current year.

Cooper Companies declared that its Board of Directors has approved a stock buyback plan on Wednesday, September 9th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the medical device company to repurchase up to 22.7% of its stock through open market purchases. Share repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Cooper Companies

In other Cooper Companies news, Director Walter Rosebrough, Jr. purchased 7,000 shares of the business's stock in a transaction on Friday, September 11th. The shares were bought 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 directly owned 17,000 shares of the company's stock, valued at approximately $919,870. This trade represents a 70.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Keel purchased 4,701 shares of Cooper Companies stock in a transaction dated 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 transaction, the director directly owned 4,701 shares of the company's stock, valued at approximately $249,999.18. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 34,701 shares of company stock valued at $1,880,039 in the last three months. 2.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup reaffirmed a "neutral" rating and set a $60.00 target price (down from $80.00) on shares of Cooper Companies in a report on Thursday, September 10th. Weiss Ratings raised shares of Cooper Companies from a "sell (d)" rating to a "hold (c-)" rating in a research note on Friday, September 18th. Wall Street Zen cut shares of Cooper Companies from a "buy" rating to a "hold" rating in a research note on Saturday, September 12th. Piper Sandler reiterated a "neutral" rating on shares of Cooper Companies in a report on Thursday. Finally, Wells Fargo & Company set a $61.00 price objective on shares of Cooper Companies and gave the company an "equal weight" rating in a report on Thursday, September 10th. Four research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $68.60.

About Cooper Companies

CooperCompanies is a global medical device company that develops, manufactures and markets products for vision care and women's health. The company operates through two primary business segments: CooperVision and CooperSurgical.

CooperVision provides contact lenses and related technologies, including products designed for myopia management, astigmatism, presbyopia and other vision-correction needs. Its portfolio includes daily disposable, reusable and specialty contact lenses sold through eye-care professionals and distributors.

CooperSurgical develops products and services for fertility and women's health.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.