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Why Cooper Companies Stock Triumphed on Thursday

TheMotleyFool 
0 0 30.08.24
Why Cooper Companies Stock Triumphed on ThursdayPhoto, wide shot, wide-angle lens, Personal care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/44547be2-b411-43fb-91ed-bf4a69577d94.png
 

One trading session after unveiling its latest set of quarterly results, Cooper Companies (NASDAQ: COO) booked a double-digit gain in share price on Thursday. That matched the double-digit increase in profitability for the specialty medical supply company, which saw its stock rise by almost 12%. With this performance, Cooper crushed the flat-lining S 500 index in Thursday's session.

For its fiscal third quarter, Cooper's revenue totaled slightly over $1 billion, which was a sturdy (8%) improvement over the same period of fiscal 2023. Most of that take came from the company's traditional contact lens supply business; this enjoyed a 7% rise in sales to nearly $676 million. The remainder came from its CooperSurgical unit's $327 million. This figure represented a 9% year-over-year increase.

Non-GAAP (adjusted) net income, meanwhile, landed at just below $192 million, or $0.96 per share. Again, this bettered the year-ago period, as it was 15% higher.

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Source Fool.com

Cooper Companies Inc. Stock

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