Maria Rivas, a director at Cooper Companies, Inc. (NASDAQ: COO), has significantly increased her investment in the company by purchasing 1,000 shares on December 18, 2023. The acquisition was made at an average price of $82.13 per share, totaling $82,130.00. Following this transaction, Rivas now holds 11,141 shares valued at approximately $915,010.33, marking a 9.86% increase in her stake.
The share purchase was disclosed in a filing with the Securities and Exchange Commission, which is accessible for public review. On December 19, the Cooper Companies stock saw a slight uptick, opening at $82.75. The company, which specializes in medical devices, has a market capitalization of $16.22 billion and a P/E ratio of 44.02.
Recent Financial Performance
In its latest earnings report released on December 4, 2023, Cooper Companies reported earnings of $1.15 per share for the quarter, surpassing analysts’ expectations of $1.11 by $0.04. The company generated revenue of $1.07 billion, slightly exceeding estimates of $1.06 billion. Year-over-year, revenue increased by 4.6%, up from $1.04 earnings per share during the same quarter last year.
Looking ahead, Cooper Companies has set its earnings guidance for fiscal year 2026 at $4.450-4.600 per share, and $1.020-1.040 for the first quarter of 2026. Analysts predict an average earnings per share of $3.98 for the current year.
Institutional Investor Activity
Recent trading activity among institutional investors indicates a growing interest in Cooper Companies. Notably, Alecta Tjanstepension Omsesidigt raised its stake by 15.8% in the third quarter, acquiring an additional 213,500 shares, bringing its total to 1,563,000 shares valued at approximately $107.1 million. Allworth Financial LP also increased its holdings by 23.9%, while IFP Advisors Inc. raised its stake by an impressive 2,647.8% during the same period.
Currently, institutional investors own 24.39% of Cooper Companies’ stock, reflecting renewed confidence in the company’s performance.
Several equity research analysts have adjusted their ratings and price targets for Cooper Companies. Needham & Company LLC maintained a “buy” rating, increasing its target price from $94.00 to $100.00. Wells Fargo & Company raised its price objective from $72.00 to $82.00 and assigned an “equal weight” rating. Morgan Stanley also raised its target price from $76.00 to $83.00.
Overall, the consensus among analysts is favorable, with one rating the stock as a “strong buy,” eight as “buy,” five as “hold,” and two as “sell.” MarketBeat.com reports an average rating of “moderate buy” with a consensus target price of $90.15.
Founded in 1958, Cooper Companies, Inc. is headquartered in San Ramon, California, and operates primarily through its two segments: CooperVision, which focuses on soft contact lenses, and CooperSurgical, dedicated to women’s health products. The company’s strategic approach of combining acquisitions with organic growth has enabled it to become a significant player in the global medical device market.
