The Cooper Companies, Inc. $COO Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its position in The Cooper Companies, Inc. (NASDAQ:COO) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 405,770 shares of the medical device company’s stock after selling 38,780 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Cooper Companies worth $22,938,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COO. BlackRock Inc. purchased a new stake in shares of Cooper Companies during the second quarter worth approximately $1,077,762,000. Generation Investment Management LLP acquired a new position in Cooper Companies in the 2nd quarter valued at $356,304,000. Jupiter Topco LLC acquired a new position in Cooper Companies in the 2nd quarter valued at $305,074,000. Bank of America Corp DE purchased a new position in Cooper Companies in the 2nd quarter valued at $144,125,000. Finally, Manning & Napier Advisors LLC purchased a new position in Cooper Companies in the 2nd quarter valued at $107,939,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Trading Down 1.4%

Shares of Cooper Companies stock opened at $63.51 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $59.37 and its 200-day simple moving average is $68.70. The stock has a market cap of $12.08 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.53 and a beta of 0.83. The Cooper Companies, Inc. has a 1-year low of $51.01 and a 1-year high of $89.83.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Wednesday, September 9th. The medical device company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. Cooper Companies had a return on equity of 10.90% and a net margin of 13.46%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. 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. Analysts predict that The Cooper Companies, Inc. will post 4.53 EPS for the current fiscal year.

Cooper Companies declared that its Board of Directors has approved a share repurchase program on Wednesday, September 9th that permits the company to buy back $3 billion in shares. This buyback authorization permits the medical device company to purchase up to 22.7% of its shares through open market purchases. Share buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Paul A. Keel purchased 4,701 shares of the stock in a transaction dated Friday, September 11th. The shares were purchased at an average price of $53.18 per share, with a total value of $249,999.18. Following the transaction, the director owned 4,701 shares in the company, valued at $249,999.18. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence Kurzius purchased 10,000 shares of the stock in a transaction dated Wednesday, September 16th. The shares were purchased at an average cost of $54.93 per share, for a total transaction of $549,300.00. Following the transaction, the director owned 31,099 shares in the company, valued at approximately $1,708,268.07. The trade was a 47.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 34,701 shares of company stock valued at $1,880,039 in the last three months. 2.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on COO shares. Needham & Company LLC lowered their target price on shares of Cooper Companies from $86.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, September 10th. Zacks Research cut shares of Cooper Companies from a “hold” rating to a “strong sell” rating in a research report on Friday, September 11th. William Blair cut shares of Cooper Companies from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 10th. Weiss Ratings downgraded shares of Cooper Companies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. Finally, Mizuho set a $75.00 price target on shares of Cooper Companies and gave the stock an “outperform” rating in a research note on Thursday, September 10th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Cooper Companies presently has an average rating of “Hold” and a consensus target price 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.