Albert G. White III’s Stock Sales

Albert G. White III, President and CEO of Cooper Companies, Inc. (NYSE: COO), has sold a large portion of his stock. On September 19, White sold 108,997 shares at an average price of $110.484 and another 5,995 shares at an average price of $111.3622, totaling approximately $12.71 million.

The share sales occurred in multiple transactions, with the larger block sold at prices ranging from $109.94 to $110.935 and the smaller block from $110.945 to $111.83. This information was revealed in a filing with the Securities and Exchange Commission (SEC).

In addition to selling shares, White acquired 114,992 shares through option exercises at $43.83 per share, amounting to around $5.04 million. It’s notable that these acquired shares are separate from the sales.

After these transactions, White’s direct ownership in the company stands at 165,273 shares. Adjustments were made to correct a previous miscalculation regarding beneficially owned securities and reflect a 4-for-1 stock split on February 16, 2024.

Investors often monitor insider transactions as they can indicate executives’ views on the company’s valuation and future. The SEC filing provides transparency for shareholders and potential investors regarding significant insider activities.

Recent Financial Performance

Cooper Companies has recently reported impressive financial results, exceeding predictions with a $5 million revenue beat and a $0.05 earnings per share beat. Strong sales across various product segments, particularly in the Toric & Multifocal and Sphere lines, drove these results. A notable beat in the Office & Surgical segment countered the Fertility division’s shortfall compared to expectations.

The company’s gross margin reached 66.6%, surpassing the Street’s expectation of 66.0%, while the adjusted operating margin stood at 25.5%, also above the forecasted 24.1%. This success highlights the advantages of the company’s product mix and effective management practices. The adjusted earnings per share guidance is projected between $0.98 to $1.01 for the fourth fiscal quarter of 2024, exceeding the Street’s estimate of $0.96.

In response to these developments, Mizuho Securities raised their price target for Cooper Companies to $120 from $115, maintaining an Outperform rating. Furthermore, the company set a record-breaking third quarter for 2024 with revenues exceeding $1 billion, an 8% increase from last year. Full-year revenue guidance has been revised upwards, signaling continued strength and growth.

InvestingPro Insights

In light of the insider transactions at Cooper Companies, Inc. (NYSE: COO), current and potential investors may find recent data from InvestingPro particularly valuable. Over the last twelve months ending Q3 2024, Cooper Companies boasts a market capitalization of $22.02 billion, reflecting its significant stability within the ophthalmic goods industry. The company’s P/E ratio is 60.88, indicating a high valuation that may be warranted given expected net income growth this year.

The company has also posted impressive performance with 8.25% revenue growth in the same period and a gross profit margin of 66.36%, demonstrating strong profitability. Moreover, 13 analysts have upgraded their earnings forecasts for the upcoming period, reflecting confidence in the company’s financial future.

Investors should also take note of recent stock performance; Cooper Companies has realized a 15.23% return over the past month and 20.45% over the last three months, showcasing positive market sentiment. For more insights, additional InvestingPro Tips are available, offering deeper analysis of Cooper Companies’ financial health and market position.

For more detailed analysis and tips, interested investors can visit InvestingPro – COO.

This article was generated with AI support and reviewed by an editor. For more information, see our T&C.