Cooper Companies sees Q4 revenue of $1.057-$1.080 bln, organic growth of 0%-2%, below Q3 pace
Company expects Q4 non-GAAP diluted EPS of $1.05-$1.09
Cooper Companies reaffirms long-term free cash flow objective exceeding $2.2 bln for 2026-2028
Overview
US medical device maker's fiscal Q3 revenue misses analyst expectations
Adjusted EPS for fiscal Q3 rose 4% and beat analyst expectations
Company repurchased $339.1 mln of stock and completed strategic review
Shares of the company were down about 14% in extended trading
Result Drivers
Inventory reduction - CooperVision results were weighed down by a reduction in U.S. channel inventory, which the company said will continue to impact Q4
Higher costs and FX - Non-GAAP gross margin declined due to higher manufacturing costs and unfavorable foreign exchange
Fertility segment growth - CooperSurgical's fertility category saw solid growth, with organic revenue up 5% yr/yr
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"
Wall Street's median 12-month price target for The Cooper Companies, Inc. is $85.00, about 25.6% above its September 8 closing price of $67.69
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago
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