Cooper Co (COO – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Larry Biegelsen from Wells Fargo remains neutral on the stock and has a $430.00 price target.
Larry Biegelsen’s Buy rating for Cooper Companies (COO) is primarily influenced by his positive outlook for the company’s financial performance. Biegelsen forecasts that COO will report a fourth fiscal quarter that meets or surpasses expectations, with total sales projected to reach $923 million and EPS calculated at $3.49, slightly above the consensus. The predicted operating margin for the quarter is also positive, while potential fluctuations in foreign exchange rates are expected to be managed effectively.
In addition, Biegelsen anticipates robust organic sales growth for COO in FY24, alongside low-double-digit operating income growth and high-single-digit reported EPS growth. This optimism extends to the company’s CVI and CSI sales, which are expected to increase due to competitive advantages and growth in office/surgical and IVF sales. Biegelsen also factors in the estimated revenue from the Cook acquisition and predicts that COO’s EPS will experience an accretion of approximately $0.20. His forecast also accounts for a potential FX headwind impact on sales and EPS, but overall, Biegelsen’s Buy rating reflects his confidence in COO’s strong financial performance and competitiveness in the market.
Biegelsen covers the Healthcare sector, focusing on stocks such as Medtronic, Johnson & Johnson, and Abbott Labs. According to TipRanks, Biegelsen has an average return of 9.9% and a 52.59% success rate on recommended stocks.
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Cooper Co (COO) Company Description:
The Cooper Cos, Inc. operates as a medical device company. It operates through the following business units: Cooper Vision and Cooper Surgical. The Cooper Vision business unit brings a refreshing perspective on vision care with a commitment to crafting quality lenses for contact lens wearers. The Cooper Surgical business unit focuses on supplying women’s health clinicians with market medical products and treatment options to improve the delivery of healthcare to women. The company was founded in 1958 and is headquartered in San Ramon, CA.
Read More on COO:
- CooperCompanies Announces Release Date for Fourth Quarter and Full Year 2023
- CooperCompanies Expands CooperSurgical’s Medical Device Portfolio with Acquisition of Select Cook Medical® Assets
- AbbVie upgraded, Cisco downgraded: Wall Street’s top analyst calls
- Cooper Companies initiated with a Buy at BofA
- Cooper Companies price target lowered to $390 from $440 at Mizuho
