Cooper Companies, Inc. (COO) just reported solid revenue and earnings growth. Margins are improving and shares are on the rise.

Company Description

The Cooper Companies, Inc., through its principal subsidiaries, develops, manufactures and markets healthcare products. CooperSurgical markets diagnostic products, surgical instruments and accessories to the women’s healthcare market.

CooperVision markets a range of contact lenses to correct visual defects, specializing in toric lenses that correct astigmatism. The company also markets conventional toric and spherical lenses and lenses for patients with more complex vision disorders.

Third Consecutive Surprise

On Mar 5 Cooper announce first-quarter results for fiscal 2009 that included earnings per share of 57 cents per share, 43% above the consensus of 40 cents. Earnings rose 50% from last year’s mark of 38 cents.

Earnings were driven by a 3% revenue growth, which came in at $251 million. The company’s operating margin also rose to 13% from 8%.

2009 Guidance

In the same announcement Cooper confirmed its original guidance for 2009. Revenue is expected to be between $1,030 million and $1,100 million. Earnings per share is expected be between $2.16 and $2.36.

Growth and Value

Cooper analysts’ estimates are averaging $2.29 for full year 2009, up from $2.15 30 days ago. Forecasts for next year are $2.56, up from $2.45 over the same time span.

These forecasts are calling for just 1.2% growth this year, but 12% in 2010. Rates are cheaply priced at just 9 times forward earnings and a PEG ratio of 0.9.

The Chart

Shares of COO have been trending higher over the past several months, but have recently hit resistance near $22 per share. Take a look at the chart below.

Zacks Investment Research
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