The Cooper Companies (COO Quick QuoteCOO - Free Report) shares ended the last trading session 7.8% higher at $440.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.7% gain over the past four weeks.

Cooper Companies witnessed solid price appreciation following the approval received from Chinese National Medical Products Administration (NMPA) – regulating medical devices and pharmaceuticals in China – with respect to CooperVision MiSight 1 day contact lenses for use within the country post a priority review. With this approval Cooper Companies will be able to work with eye-care professionals more closely and proactively when it comes to treating children in China.

This surgical and contact lens products maker is expected to post quarterly earnings of $3.29 per share in its upcoming report, which represents a year-over-year change of +44.3%. Revenues are expected to be $724.6 million, up 25.3% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For The Cooper Companies, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on COO going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>