MedTech Stock Cooper Companies Poised For Organic Growth, Analysts Have Confidence In Stock

Wednesday, Cooper Companies COO reported Q3 adjusted EPS of $3.35, slightly ahead of the consensus Of $3.34.

The company reported Q3 sales of $930.20 million, up 10% Y/Y, up 11% in constant currency, up 12% organically, beating the consensus of $899.75 million.

The company sees FY24 adjusted EPS of $12.72-$12.90 compared to the consensus of $12.82.

It sees revenue of $3.578-$3.595 billion versus the consensus of $3.55 billion.

After yet another robust quarter in revenue, William Blair analysts Margaret Kaczor and Macauley Kilbane note their confidence and say Cooper is strongly positioned for significant organic revenue growth over the coming years. 

The assessment indicates that both business segments are strategically positioned to achieve steady, lasting mid- to high-single-digit growth akin to annuity models, supported by key factors that remain intact.

William Blair notes that the stock profile is highly appealing to investors in the long run.

Needham writes that CooperVision saw its tenth consecutive quarter of double-digit growth (13% organic), and management expects its pace of market share capture to continue. 

Cooper Surgical beat consensus, with PARAGARD recovering from the impact of forward buying in the prior quarter. While Cooper Companies' fundamentals remain strong, its shares are fairly valued, leading to a Hold rating, the analyst writes.

Price Action: COO shares are down 2.41% at $371.88 on the last check Thursday.