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Here's Why You Should Retain Cooper Companies (COO) Stock Now
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The Cooper Companies, Inc. (COO - Free Report) is well-poised for growth, backed by strong prospects in both CooperVision (CVI) and CooperSurgical (CSI) business segments. However, forex remains a woe.
Shares of the Zacks Rank #3 (Hold) company gained 9.9% compared with the industry's growth of 8.5% over the past year. The S&P 500 Index has rallied 12.8% in the same time frame.
Cooper Companies — with a market capitalization of $20.73 billion — is a specialty medical device company operating on a global basis. It anticipates earnings to improve 11% over the next five years. The company beat earnings estimates in three of the trailing four quarters and missed once, the average surprise being 3.6%.
Key Catalysts
Cooper Companies maintained its market-leading position in specialty lenses, supported by highly exclusive products of Biofinity and Clariti. In fact, the company's flagship silicone hydrogel lenses are expected to deliver strong sales in the coming quarters. In the fiscal first quarter of 2022, the company witnessed substantial growth across CooperVision'sToric, Multifocal, single-use sphere, Non-single use sphere subunits. It experienced an improvement in sales on a geographic basis — with the Americas, EMEA and Asia Pacific exhibiting strength in the fiscal first quarter.
The segment displayed solid performance in the fiscal first quarter, with the segment's revenues rising 14% at the constant exchange rate (CER) and 11% on a reported basis to $561.5 million. Per management, strength in silicone hydrogel lenses contributed to the segmental uptick.
Image Source: Zacks Investment Research
In the fiscal first quarter, MiSight witnessed a whopping growth of 172%. Per management, myopia management continues to witness strong momentum, and the company is still projecting constant currency growth of above 50% in fiscal 2022 to around $100 million in sales.
Cooper Companies is well-positioned to benefit from the expanding CSI product portfolio. Per the fiscal first-quarter 2022 earnings call, CooperSurgical witnessed a solid quarter with revenue growth across two focus areas — fertility and office and surgical medical devices. With respect to fertility, revenues surged 38% year over year to $96.8 million, reflecting continued solid performance. However, PARAGARD witnessed a decline in sales due to the negative impact of the pandemic.
CooperSurgical displayed strength in the fiscal first quarter, with revenues of $225.7 million, up 33% at constant currency and 30% on a year-over-year basis. The segment benefited from a strong fertility sub-segment and office and surgical products.
Concerning Factor
Cooper Companies generates a significant portion of its revenues in foreign currencies. Fluctuations in foreign exchange rates may significantly mar its overseas revenues.
Estimates Trend
Cooper Companies has been witnessing an upward estimate revision trend for fiscal 2022. In the past 60 days, the Zacks Consensus Estimate for its earnings has moved north by 0.4% to $14.09.
The Zacks Consensus Estimate for the company's fiscal second-quarter 2022 revenues is pegged at $817.5 million, suggesting growth of13.6% from the year-ago reported number.
Stocks to Consider
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare has an estimated long-term growth rate of 16.2%. AMN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20%. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare’s long-term earnings growth rate is estimated at 16.2%. The company’s earnings yield of 8.9% compares favorably with the industry’s 0.03%.
Henry Schein beat earnings estimates in each of the trailing four quarters, the average surprise being 25.5%. The company currently carries a Zacks Rank #2.
Henry Schein's long-term earnings growth rate is estimated at 11.8%. The company's earnings yield of 5.5% compares favorably with the industry's 3.6%.
McKesson surpassed earnings estimates in each of the trailing four quarters, the average surprise being 20.6%. The company currently carries a Zacks Rank #2.
McKesson's long-term earnings growth rate is estimated at 11.8%. The company's earnings yield of 7.4% compares favorably with the industry's 3.6%.
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Here's Why You Should Retain Cooper Companies (COO) Stock Now
The Cooper Companies, Inc. (COO - Free Report) is well-poised for growth, backed by strong prospects in both CooperVision (CVI) and CooperSurgical (CSI) business segments. However, forex remains a woe.
Shares of the Zacks Rank #3 (Hold) company gained 9.9% compared with the industry's growth of 8.5% over the past year. The S&P 500 Index has rallied 12.8% in the same time frame.
Cooper Companies — with a market capitalization of $20.73 billion — is a specialty medical device company operating on a global basis. It anticipates earnings to improve 11% over the next five years. The company beat earnings estimates in three of the trailing four quarters and missed once, the average surprise being 3.6%.
Key Catalysts
Cooper Companies maintained its market-leading position in specialty lenses, supported by highly exclusive products of Biofinity and Clariti. In fact, the company's flagship silicone hydrogel lenses are expected to deliver strong sales in the coming quarters. In the fiscal first quarter of 2022, the company witnessed substantial growth across CooperVision'sToric, Multifocal, single-use sphere, Non-single use sphere subunits. It experienced an improvement in sales on a geographic basis — with the Americas, EMEA and Asia Pacific exhibiting strength in the fiscal first quarter.
The segment displayed solid performance in the fiscal first quarter, with the segment's revenues rising 14% at the constant exchange rate (CER) and 11% on a reported basis to $561.5 million. Per management, strength in silicone hydrogel lenses contributed to the segmental uptick.
Image Source: Zacks Investment Research
In the fiscal first quarter, MiSight witnessed a whopping growth of 172%. Per management, myopia management continues to witness strong momentum, and the company is still projecting constant currency growth of above 50% in fiscal 2022 to around $100 million in sales.
Cooper Companies is well-positioned to benefit from the expanding CSI product portfolio. Per the fiscal first-quarter 2022 earnings call, CooperSurgical witnessed a solid quarter with revenue growth across two focus areas — fertility and office and surgical medical devices. With respect to fertility, revenues surged 38% year over year to $96.8 million, reflecting continued solid performance. However, PARAGARD witnessed a decline in sales due to the negative impact of the pandemic.
CooperSurgical displayed strength in the fiscal first quarter, with revenues of $225.7 million, up 33% at constant currency and 30% on a year-over-year basis. The segment benefited from a strong fertility sub-segment and office and surgical products.
Concerning Factor
Cooper Companies generates a significant portion of its revenues in foreign currencies. Fluctuations in foreign exchange rates may significantly mar its overseas revenues.
Estimates Trend
Cooper Companies has been witnessing an upward estimate revision trend for fiscal 2022. In the past 60 days, the Zacks Consensus Estimate for its earnings has moved north by 0.4% to $14.09.
The Zacks Consensus Estimate for the company's fiscal second-quarter 2022 revenues is pegged at $817.5 million, suggesting growth of13.6% from the year-ago reported number.
Stocks to Consider
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare has an estimated long-term growth rate of 16.2%. AMN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20%. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare’s long-term earnings growth rate is estimated at 16.2%. The company’s earnings yield of 8.9% compares favorably with the industry’s 0.03%.
Henry Schein beat earnings estimates in each of the trailing four quarters, the average surprise being 25.5%. The company currently carries a Zacks Rank #2.
Henry Schein's long-term earnings growth rate is estimated at 11.8%. The company's earnings yield of 5.5% compares favorably with the industry's 3.6%.
McKesson surpassed earnings estimates in each of the trailing four quarters, the average surprise being 20.6%. The company currently carries a Zacks Rank #2.
McKesson's long-term earnings growth rate is estimated at 11.8%. The company's earnings yield of 7.4% compares favorably with the industry's 3.6%.