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The Cooper Companies, Inc. (COO), headquartered in San Ramon, California, is a global leader in medical devices and specialty healthcare products. With a market cap of $20.86 billion, Cooper Companies focuses on delivering innovative solutions in vision care and women’s health, improving the quality of life for millions of patients worldwide through its two business units: CooperVision and CooperSurgical.
Companies valued at $10 billion or more are generally described as "large-cap stocks," and Cooper Companies is a prime example of this. By enhancing vision care and women’s health, Cooper Companies improves the quality of life for millions of patients worldwide, making it a leader in specialty healthcare products.
COO shares are trading 1.7% below their 52-week high of $112.38, which they hit on Sep. 16. The stock has gained 20.5% over the past three months, outperforming the broader Nasdaq Composite ($NASX), which has gained 1.3% over the same time frame.
In the longer term, the COO is up 16.8% on a YTD basis, and the shares have gained by 31.3% over the past 52 weeks. In comparison, the Nasdaq has gained 19.6% in 2024 and rallied 33.3% over the past year.
To confirm its recent bullish trend, COO has been trading above its 50-day moving average since mid-August and the 200-day moving average since late August.
On Aug. 28, COO gained marginally after reporting Q3 results. The company reported an 8% year-over-year increase in revenue, reaching $1,002.8 million. Non-GAAP diluted EPS improved by 14% to $0.96.
Highlighting the contrast in performance, COO's competitor, Align Technology, Inc. (ALGN), has underperformed both the stock and NASX. COO has declined 7.7% on a YTD basis.
Analysts are bullish about the COO's prospects. The stock has a consensus rating of "Strong Buy" from 15 analysts in coverage. The mean price target is $116.23, suggesting a premium of 5.2% to its current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
