The Cooper Companies, Inc. $COO Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. reduced its stake in The Cooper Companies by 8.7%, now holding approximately 992,933 shares valued at about $70.66 million.
• Analysts have mixed views on Cooper Companies, with Wells Fargo and JPMorgan lowering their price targets, while BNP Paribas upgraded their rating to "outperform."
• Cooper Companies announced a share repurchase program, allowing for the buyback of up to $2 billion, indicating management's belief that the stock is undervalued.

Congress Asset Management Co. cut its position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 8.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 992,933 shares of the medical device company's stock after selling 95,129 shares during the quarter. Congress Asset Management Co. owned 0.50% of Cooper Companies worth $70,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in COO. Goldman Sachs Group Inc. lifted its holdings in Cooper Companies by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,734,327 shares of the medical device company's stock worth $399,340,000 after buying an additional 686,751 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Cooper Companies by 36.0% in the first quarter. Millennium Management LLC now owns 2,577,416 shares of the medical device company's stock worth $217,405,000 after acquiring an additional 682,166 shares in the last quarter. Nuveen LLC purchased a new position in Cooper Companies in the first quarter valued at about $55,367,000. Alecta Tjanstepension Omsesidigt grew its stake in Cooper Companies by 60.7% during the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,349,500 shares of the medical device company's stock valued at $96,030,000 after purchasing an additional 509,800 shares in the last quarter. Finally, Select Equity Group L.P. increased its holdings in Cooper Companies by 185.0% during the 1st quarter. Select Equity Group L.P. now owns 749,050 shares of the medical device company's stock worth $63,182,000 after purchasing an additional 486,241 shares during the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Cooper Companies from $93.00 to $72.00 and set an "overweight" rating for the company in a research report on Thursday, August 28th. JPMorgan Chase & Co. dropped their target price on shares of Cooper Companies from $76.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, August 28th. BNP Paribas Exane raised shares of Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 price target on the stock in a research report on Tuesday, July 22nd. Robert W. Baird decreased their price target on Cooper Companies from $97.00 to $85.00 and set an "outperform" rating for the company in a research note on Thursday, August 28th. Finally, BNP Paribas upgraded Cooper Companies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.64.

Insiders Place Their Bets

In other Cooper Companies news, COO Daniel G. Mcbride purchased 3,000 shares of Cooper Companies stock in a transaction on Tuesday, September 2nd. The stock was bought at an average price of $65.04 per share, for a total transaction 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. The trade was a 4.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Albert G. White III purchased 10,000 shares of the stock in a transaction dated Friday, September 5th. The shares were acquired at an average cost of $68.39 per share, for a total transaction of $683,900.00. Following the completion of the acquisition, the chief executive officer directly owned 226,151 shares of the company's stock, valued at approximately $15,466,466.89. This trade represents a 4.63% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 15,975 shares of company stock worth $1,079,566. Insiders own 1.98% of the company's stock.

Cooper Companies Trading Down 2.1%

Cooper Companies stock opened at $66.89 on Friday. The Cooper Companies, Inc. has a 52-week low of $61.78 and a 52-week high of $111.44. The company has a quick ratio of 1.24, a current ratio of 2.12 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $13.30 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 1.79 and a beta of 0.97. The firm has a 50-day moving average price of $70.24 and a two-hundred day moving average price of $74.62.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The medical device company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.03. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. 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 year.

Cooper Companies announced that its Board of Directors has authorized a share repurchase program on Wednesday, September 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the medical device company to repurchase up to 15.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Cooper Companies 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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