Cooper Companies drops on revised annual profit forecast
COO•Year-to-date performance
Year to date, the stock is down about 22.5%, compared with a 13% rise in the Nasdaq (.IXIC).
Analyst reaction and valuation
At least five brokerages trimmed price targets on the stock.
The stock recently traded at 14 times expected earnings versus a five-year average forward P/E of 22, according to LSEG-compiled data, suggesting it may be undervalued.
The average rating of 19 analysts is "buy"; their median price target is $80, LSEG-compiled data showed.
Updated guidance trails estimates
Cooper now sees annual adjusted profit of $4.51-$4.55 per share, down from $4.58-$4.66, and fiscal 2026 revenue of $4.23 billion-$4.25 billion versus a prior view of $4.29 billion-$4.32 billion. Both ranges trail analyst estimates.
Shares fall after forecast cut and revenue miss
Shares of medical device maker Cooper Companies (COO.O) were down in premarket trading after the company cut its annual profit forecast and posted third-quarter revenue below estimates, as weak demand for its contact lenses weighed on sales.
