Jennison Associates LLC Sells 142,450 Shares of The Cooper Companies, Inc. $COO

Jennison Associates LLC lessened its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 37.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 238,094 shares of the medical device company’s stock after selling 142,450 shares during the quarter. Jennison Associates LLC owned about 0.12% of Cooper Companies worth $16,943,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in Cooper Companies in the first quarter valued at about $33,000. GKV Capital Management Co. Inc. bought a new stake in Cooper Companies in the first quarter valued at about $40,000. J.Safra Asset Management Corp increased its holdings in Cooper Companies by 204.8% in the second quarter. J.Safra Asset Management Corp now owns 506 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 340 shares during the last quarter. Larson Financial Group LLC increased its holdings in Cooper Companies by 1,071.0% in the first quarter. Larson Financial Group LLC now owns 726 shares of the medical device company’s stock valued at $61,000 after purchasing an additional 664 shares during the last quarter. Finally, HM Payson & Co. increased its holdings in Cooper Companies by 147.4% in the first quarter. HM Payson & Co. now owns 893 shares of the medical device company’s stock valued at $75,000 after purchasing an additional 532 shares during the last quarter. Institutional investors own 24.39% of the company’s stock.

Insider Activity at Cooper Companies

In other news, COO Gerard H. Warner III acquired 1,450 shares of Cooper Companies stock in a transaction dated Friday, September 5th. The stock was bought at an average cost of $69.23 per share, with a total value of $100,383.50. Following the completion of the transaction, the chief operating officer directly owned 18,319 shares of the company’s stock, valued at approximately $1,268,224.37. This represents a 8.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daniel G. Mcbride acquired 3,000 shares of Cooper Companies stock in a transaction dated Tuesday, September 2nd. The shares were purchased at an average cost of $65.04 per share, with a total value of $195,120.00. Following the completion of the transaction, the chief operating officer directly owned 63,120 shares of the company’s stock, valued at $4,105,324.80. This trade represents a 4.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 17,975 shares of company stock valued at $1,216,346 over the last ninety days. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on COO. BNP Paribas Exane upgraded Cooper Companies from a “neutral” rating to an “outperform” rating and set a $92.00 price objective for the company in a report on Tuesday, July 22nd. Needham & Company LLC reissued a “buy” rating and issued a $94.00 target price on shares of Cooper Companies in a research note on Thursday, August 28th. Mizuho decreased 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Cooper Companies in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus decreased their target price on Cooper Companies from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Cooper Companies presently has an average rating of “Moderate Buy” and an average price target of $84.77.

Cooper Companies Stock Down 0.3%

COO stock opened at $69.91 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.12 and a quick ratio of 1.24. The stock has a market capitalization of $13.90 billion, a P/E ratio of 34.44, a P/E/G ratio of 1.83 and a beta of 1.02. The business has a 50-day moving average of $69.37 and a 200-day moving average of $73.02. The Cooper Companies, Inc. has a fifty-two week low of $61.78 and a fifty-two week high of $107.84.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data 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 company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.Cooper Companies’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. 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, sell-side analysts anticipate that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Cooper Companies announced that its board has initiated a stock repurchase program on Wednesday, September 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical device company to buy up to 15.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is 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.