What To Expect From CooperCompanies's (COO) Q3 Earnings

Medical device company CooperCompanies (NASDAQ:COO) will be announcing earnings results this Thursday afternoon. Here’s what you need to know.

CooperCompanies met analysts’ revenue expectations last quarter, reporting revenues of $1.06 billion, up 5.7% year on year. It was a slower quarter for the company, with revenue guidance for next quarter missing analysts’ expectations significantly and a miss of analysts’ organic revenue estimates.

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

This quarter, analysts are expecting CooperCompanies’s revenue to grow 4.2% year on year to $1.06 billion, slowing from the 9.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.12 per share.

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 four times over the last two years.

Looking at CooperCompanies’s peers in the medical devices & supplies - diversified segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Boston Scientific delivered year-on-year revenue growth of 20.3%, beating analysts’ expectations by 1.9%, and Stryker reported revenues up 10.2%, in line with consensus estimates. Boston Scientific traded up 2.5% following the results while Stryker was down 3.5%.

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

There has been positive sentiment among investors in the medical devices & supplies - diversified segment, with share prices up 5.4% on average over the last month. CooperCompanies is up 9.3% during the same time and is heading into earnings with an average analyst price target of $83 (compared to the current share price of $76.76).

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