CooperCompanies keeps CooperSurgical, raises buyback to $3B

CooperCompanies (Nasdaq: COO) said its board of directors unanimously concluded that retaining its CooperSurgical unit is preferable to selling it, following a strategic review process that began in December 2025.

The board evaluated a sale of CooperSurgical but determined that offers received did not adequately reflect the unit's value. The company cited two factors it said contributed to a valuation gap: the entry of a competitor into the non-hormonal IUD market and the financial impact of a recent fertility litigation settlement.

"Following a thorough evaluation of strategic alternatives involving numerous parties, the Board unanimously concluded that shareholders would be better served by continued ownership than by pursuing a transaction at this time," said Colleen Jay, Chair of the Board.

Alongside the strategic review conclusion, the board expanded its share repurchase authorization from $2 billion to $3 billion. The company said it has already repurchased $445 million in shares during the current fiscal year. The board said it continues to believe the company's market valuation does not reflect its underlying business position.

The company also announced several operational changes identified during the review, including an expansion of CooperVision's global sales and marketing organization, cost reduction and efficiency programs, revised inventory and logistics initiatives, and an accelerated new product introduction strategy. CooperVision's new global research and development hub, The Vision Centre, is scheduled to open Sept. 23, 2026.

The board added two independent directors with backgrounds as chief executives of medical device companies during the review period.

CooperCompanies also released its third-quarter 2026 financial results in a separate statement on the same date.

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