Cooper Cos. Gain 12% to 2-1/2 Year High as Medical-Device Firm Beats on Fiscal Q3 Results

COO rose on the news by as much as 12.7% to a $106.58 intraday peak, the stock's highest level since April 2022.

Cooper reported Wednesday after the bell that adjusted earnings came in at $0.96 per share for the three months ended July 31. That's up from $0.84 a year earlier and better than the $0.91 that published reports indicated analysts had expected.

Net sales for the quarter totaled $1 billion, rising from $930.2 million in the same period last year and better than analysts' reported $997.3 million consensus forecast.

Cooper also guided fiscal Q4 adjusted earnings per share to $0.98-$1.01 on $1.02 billion-$1.04 billion of revenues. That compares to analysts' reported consensus forecast of $0.96 EPS on $1.01 billion of revenues.

For the fiscal year as a whole, management guided EPS to $3.64-$3.67 on $3.89 billion-$3.91 billion of revenues. Analysts had reportedly been modeling just $3.57 of EPS on $3.89 billion of net sales.