CooperCompanies (COO) To Report Earnings Tomorrow: Here Is What To Expect

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CooperCompanies (COO) To Report Earnings Tomorrow: Here Is What To Expect

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Medical device company CooperCompanies (NASDAQ:COO) will be reporting results tomorrow afternoon. Here’s what to look for.

CooperCompanies missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $964.7 million, up 3.6% year on year. It was a slower quarter for the company, with a slight miss of analysts’ organic revenue estimates and full-year revenue guidance meeting analysts’ expectations.

Is CooperCompanies a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting CooperCompanies’s revenue to grow 5.5% year on year to $994.1 million, slowing from the 7.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.93 per share.

CooperCompanies Total Revenue
CooperCompanies Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CooperCompanies has missed Wall Street’s revenue estimates five times over the last two years.

Looking at CooperCompanies’s peers in the medical devices & supplies - diversified segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Boston Scientific delivered year-on-year revenue growth of 20.9%, beating analysts’ expectations by 2%, and Baxter reported revenues up 5.4%, topping estimates by 1.9%. Boston Scientific traded up 6.5% following the results while Baxter was down 1.5%.

Read our full analysis of Boston Scientific’s results here and Baxter’s results here.

Investors in the medical devices & supplies - diversified segment have had steady hands going into earnings, with share prices flat over the last month. CooperCompanies is down 2% during the same time and is heading into earnings with an average analyst price target of $105.55 (compared to the current share price of $80.59).

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