Medical device company CooperCompanies (NASDAQ: COO) will be reporting earnings this Thursday after the bell. Here’s what investors should know.
CooperCompanies met analysts’ revenue expectations last quarter, reporting revenues of $1.02 billion, up 6.2% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates but organic revenue in line with analysts’ estimates.
Is CooperCompanies a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting CooperCompanies’s revenue to grow 5.1% year on year, slowing from the 6.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. CooperCompanies has missed Wall Street’s revenue estimates multiple 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. Baxter delivered year-on-year revenue growth of 2.9%, beating analysts’ expectations by 3.5%, and Boston Scientific reported revenues up 11.6%, topping estimates by 0.5%. Baxter traded up 1.8% following the results while Boston Scientific was also up 10.4%.
Read our full analysis of Baxter’s results here and Boston Scientific’s results here.
There has been positive sentiment among investors in the medical devices & supplies - diversified segment, with share prices up 2.8% on average over the last month. CooperCompanies is down 3.3% during the same time and is heading into earnings with an average analyst price target of $88.21 (compared to the current share price of $59.50).
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