Top Performer for Monday – Zacks #1 Rank Top Performers
Source: http://www.zacks.com/commentary/10251/Top+Performer+for+Monday++-+Zacks+%231+Rank+Top+PerformersPosted on Monday, March 9th, 2009 | In Stocks to Watch
Earnings estimates on The Cooper Companies, Inc. (COO) advanced solidly over the past 7 days as analysts respond to it’s fiscal first quarter report, which included EPS and revenue that improved year over year.
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Today, shares of the medical supplies company are up approximately 9%, which makes COO a top-performing Zacks #1 Rank.
Earnings estimates for this fiscal year, ending October 2009, are up 6% in the past week as 6 of 7 covering analysts gave their expectations a boost.
Similarly, estimates for next fiscal year, ending October 2010, advanced 3.7% in that timeframe with 5 of 8 covering analysts revising upward. Analysts currently expect profit for next fiscal year to advance more than 11% from this fiscal year.
Last Thursday, COO announced that revenue in the quarter increased 3% to $251.1 million, compared to $242.8 million a year earlier. Revenue for its CooperVision unit, which makes soft contact lenses, was up 4% to $211.2 million, while its CooperSurgical unit, which makes medical devices and instruments, moved higher 1% to $39.9 million.
Excluding items, earnings estimates for the quarter reached 57 cents, which beat the consensus by more than 42% while also eclipsing the year-ago result.
COO stated that its cost control efforts have brought about strong operating results, which put the company in a good position to meet its financial goals for the rest of the year.
The company reiterated its 2009 guidance of GAAP EPS between $2.16 and $2.36, with revenue of $1.03 billion to $1.1 billion.
COO is 1 of 4 companies from the Medical/Dental Supply industry on the Zacks #1 Rank List for today. The other 3 companies are Aradigm Corporation (ARDM), Steris Corporation (STE) and Young Innovations (YDNT).
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 About James Giaquinto (http://www.zacks.com/)
James Giaquinto is an Editor at Zacks Investment Research. |
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