The Cooper Companies, Inc. $COO Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in The Cooper Companies by 6.2%, now holding 76,296 shares valued at approximately $5.43 million after selling 5,023 shares in Q2.
• Insider purchases included Brian G. Andrews, EVP, buying 1,525 shares and Daniel G. Mcbride, COO, acquiring 3,000 shares, reflecting increases in their ownership of the company's stock.
• Cooper Companies has announced a $2 billion share buyback program, signaling confidence in its market position and the belief that its shares are undervalued.

Truist Financial Corp reduced its position in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 6.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,296 shares of the medical device company's stock after selling 5,023 shares during the period. Truist Financial Corp's holdings in Cooper Companies were worth $5,429,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Cooper Companies by 3.4% during the first quarter. JPMorgan Chase & Co. now owns 5,177,008 shares of the medical device company's stock worth $436,681,000 after acquiring an additional 172,485 shares during the period. Goldman Sachs Group Inc. grew its holdings in Cooper Companies by 17.0% during the first quarter. Goldman Sachs Group Inc. now owns 4,734,327 shares of the medical device company's stock worth $399,340,000 after acquiring an additional 686,751 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Cooper Companies by 12.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,954,877 shares of the medical device company's stock worth $333,595,000 after acquiring an additional 425,400 shares during the period. Millennium Management LLC grew its holdings in Cooper Companies by 36.0% during 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cooper Companies by 15.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,121,835 shares of the medical device company's stock worth $178,977,000 after acquiring an additional 284,943 shares during the period. 24.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Brian G. Andrews bought 1,525 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was purchased at an average price of $65.68 per share, with a total value of $100,162.00. Following the completion of the transaction, the executive vice president directly owned 22,191 shares of the company's stock, valued at $1,457,504.88. This trade represents a 7.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Daniel G. Mcbride bought 3,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were bought at an average cost of $65.04 per share, with a total value of $195,120.00. Following the transaction, the chief operating officer directly owned 63,120 shares of the company's stock, valued at approximately $4,105,324.80. This trade represents a 4.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 17,975 shares of company stock valued at $1,216,346. Insiders own 1.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COO. Robert W. Baird dropped their price target on Cooper Companies from $97.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, August 28th. Loop Capital set a $100.00 price target on Cooper Companies in a research note on Tuesday, June 17th. The Goldman Sachs Group set a $64.00 price target on Cooper Companies and gave the stock a "sell" rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a "hold (c-)" rating on shares of Cooper Companies in a research note on Saturday, September 27th. Finally, Piper Sandler dropped their price target on Cooper Companies from $105.00 to $83.00 and set an "overweight" rating on the stock in a research note on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cooper Companies currently has an average rating of "Moderate Buy" and an average target price of $84.75.

Cooper Companies Trading Down 1.6%

Shares of NASDAQ COO opened at $69.02 on Wednesday. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 1.84 and a beta of 1.02. The business has a 50 day simple moving average of $69.54 and a 200 day simple moving average of $73.96. The Cooper Companies, Inc. has a 52 week low of $61.78 and a 52 week high of $109.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.24 and a current ratio of 2.12.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its earnings results on Wednesday, August 27th. The medical device company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 EPS. 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, research analysts predict that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Cooper Companies declared that its Board of Directors has approved a share repurchase program on Wednesday, September 17th that allows the company to buyback $2.00 billion in 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 usually an indication that the company's leadership believes its shares are undervalued.

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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