(COO) The Cooper Companies, Inc. – Momentum – Zacks Rank Buy

April 2nd, 2009

The Cooper Companies, Inc. (COO) continues to perform well in a touch market, with the company’s recent first-quarter results coming in ahead of expectations.

Company Description

The Cooper Companies, Inc., through its subsidiaries, develops and manufactures healthcare products both domestically and internationally. The company was founded in 1980 and has a market cap of $1.19 billion.

Industry Strength

Cooper Cos. operates in the medical products industry, a segment of the market that has held up relatively well during the market declines of the last 12 months. This held true when the company reported strong first-quarter results on Mar 5.

First-Quarter Results

Sales were up 3% to $251.1 million. Income came in at $23.9 million, a huge jump from $6.9 million last year. This produced earnings of 57 cents per share, 17 cents ahead of the consensus estimate.

Cooper has produced consistent results in the last year, having beat the consensus in each of the last 3 quarters by an average of 6 cents, or 14%.

Estimates Advance

Analyst estimates have ticked higher since Cooper reported its solid quarterly results, with the current-year estimate up 15 cents to $2.30 per share. The next-year estimate is up 11 cents to $2.56, an 11% earnings growth projection.

The Chart

Shares of COO have been on a nice rally since early March, climbing from just below $18 to a recent high above $26. Take a look at the chart below.

Zacks Investment Research
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Read more on Cooper Companies at Wikinvest

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