Close your eyes and go for it? The Cooper Companies is a global company that provides medical devices for physicians and healthcare professionals. Their product portfolio includes spherical lenses used to correct vision deficiencies such as nearsightedness and farsightedness. In addition, they provide solutions to correct other eye conditions such as astigmatism and presbyopia.

Cooper Companies Beats Expectations For the 4th quarter, the company reported sales of $927.1 million compared to $848.1 million a year ago. Analysts surveyed by Capital IQ had expected sales of $924.3 million. Net income was $84.5 million compared to $65.6 million a year ago.

Revenue Increase, Profits Drop Significantly For the full year, the company reported revenue of $3.59 billion compared to $3.30 billion the previous year. Net income was $294.2 million compared to $385.8 million a year ago. Earnings per share was $5.91 compared to $7.76 the previous year. This was a sharp decline, but fortunately the outlook looks better.

Earnings Forecast 2024 For the fiscal year 2024, the company expects earnings per share between $13.60 and $14.00, and revenue of $3.81 to $3.88 billion, with a mid-range value below analysts‘ estimates of $3.86 billion. The forecast for 2025 is again expecting increasing profits.

High Volatility, But a New Uptrend Conclusion: As you can see from the chart above, the medical technology stock has only risen by 9% this year – but there have been high fluctuations with price crashes and just as significant drops. Since the fall, Cooper has been in a new uptrend. The analyst trend is slightly positive. 8 out of 18 analysts recommend buying and 10 recommend holding. No sell recommendation. The average analyst target price is $386, the highest analyst target price is even $430 – potentially a 20% return for you. Based on the earnings estimate for 2024, the medical technology stock is valued at a P/E of just under 26, which is certainly not a bargain.