Cooper Companies CEO Sells Over $12 Million in Stock

Albert G. White III Sells Shares in Cooper Companies Following Strong Financial Performance

Albert G. White III, President and CEO of Cooper Companies, Inc., has sold a notable amount of his stock in the company. On September 19, White sold 108,997 shares at an average price of $110.484 per share, along with 5,995 shares at an average price of $111.3622. The total proceeds from these sales amounted to approximately $12.71 million.

These transactions occurred at various price points, with the larger block of shares sold in multiple transactions between $109.94 and $110.935, and the smaller block ranging from $110.945 to $111.83. This information was reported in a recent filing with the Securities and Exchange Commission (SEC).

In conjunction with these sales, White acquired 114,992 shares through the exercise of options at a cost of $43.83 per share, totaling around $5.04 million. However, it should be noted that these acquired shares do not factor into the total value of shares sold.

As a result of these transactions, White’s direct ownership in Cooper Companies has been adjusted to 165,273 shares of common stock. This adjustment comes in light of a previous miscalculation concerning the number of shares beneficially owned and reflects the company’s 4-for-1 stock split executed on February 16, 2024.

Insider transactions are closely monitored by investors, as they can offer insights into executives’ views on the company’s valuation and future outlook. The SEC filing promotes transparency, keeping shareholders and potential investors informed about significant trades.

In recent developments, Cooper Companies announced strong financial results, outperforming expectations with a $5 million revenue increase and a $0.05 earnings per share adjustment. The company’s success was attributed to robust sales across multiple product lines, with particularly strong performance in the Toric & Multifocal and Sphere segments. An outstanding performance in the Office & Surgical segment compensated for a shortfall in the Fertility division relative to market estimates.

Cooper Companies achieved a gross margin of 66.6%, exceeding the anticipated 66.0%, while the adjusted operating margin was reported at 25.5%, surpassing the expected 24.1%. These results highlight the advantages of the company’s product mix and effective management of expenses. For the fourth fiscal quarter of 2024, Cooper Companies has issued an adjusted earnings per share guidance ranging from $0.98 to $1.01, above the market’s estimate of $0.96.

Following these developments, Mizuho Securities increased its price target for Cooper Companies to $120 from $115 while maintaining an Outperform rating. Additionally, the company registered record revenues in the third quarter of 2024, surpassing $1 billion—a notable 8% increase from the previous year. Cooper Companies has also raised its full-year revenue forecasts, anticipating ongoing operational strength and growth.

Investors Take Note

In light of the recent insider sales at Cooper Companies, current and prospective investors may find valuable insights from recent financial data. As of the last twelve months ending in Q3 2024, Cooper Companies boasts a robust market capitalization of $22.02 billion, underscoring the firm’s substantial standing in the ophthalmic goods industry. The P/E ratio stands at 60.88, reflecting a high valuation sustained by anticipated net income growth, supported by various financial indicators.

Furthermore, Cooper Companies has reported an 8.25% revenue growth during the same period, alongside a solid gross profit margin of 66.36%. Analysts have shown confidence in the company’s financial future, with 13 analysts raising their earnings estimates for the upcoming period.

Investors should consider the company’s price performance as well. Cooper Companies has delivered impressive returns, with a 15.23% gain over the past month and a 20.45% increase in the last three months, indicating positive market sentiment.

For further insights into Cooper Companies’ financial health and market position, additional analysis and indicators such as stock volatility and dividend history are available to help inform investment decisions.

This article was generated with AI assistance and reviewed by an editor for accuracy.