Why Cooper Companies Stock Triumphed on Thursday
One trading session after unveiling its latest set of quarterly results, Cooper Companies (NASDAQ: COO) booked a double-digit gain in share price on Thursday. That matched the double-digit increase in profitability for the specialty medical supply company, which saw its stock rise by almost 12%. With this performance, Cooper crushed the flat-lining S 500 index in Thursday's session.
For its fiscal third quarter, Cooper's revenue totaled slightly over $1 billion, which was a sturdy (8%) improvement over the same period of fiscal 2023. Most of that take came from the company's traditional contact lens supply business; this enjoyed a 7% rise in sales to nearly $676 million. The remainder came from its CooperSurgical unit's $327 million. This figure represented a 9% year-over-year increase.
Non-GAAP (adjusted) net income, meanwhile, landed at just below $192 million, or $0.96 per share. Again, this bettered the year-ago period, as it was 15% higher.
Source Fool.com
Cooper Companies Inc. Stock
Cooper Companies Inc. is currently one of the favorites of our community with 13 Buy predictions and no Sell predictions.
However, we have a potential of -68.51% for Cooper Companies Inc. as the target price of 108 € is below the current price of 343.0 €.
