Cooper Companies rises on Q3 results beat, annual forecast lift

The Cooper Companies

29/08/2024 14:04

** Shares of medical device maker Cooper Companies  COO.O 
rise 7.1% to $101.24 premarket
    ** Co posts Q3 rev of $1 bln, beating analysts' estimate of
$997.30 mln - LSEG
    ** Sees annual adj. profit per share between $3.64 and
$3.67, above $3.54 to $3.60 it previously expected
    ** "This was a good quarter, with contact lens share
gains... and notable operating leverage" - Citi analyst Joanne
Wuensch
    **  Analysts at Baird think concerns around pricing and
overall patient demand for Cooper's contact lens business has
flared recently as its peer Alcon  ALCC.S  saw its Q2 global
contact lens growth slow
    ** Up to last close, stock mostly flat YTD
    


 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))