- The Cooper Companies has had a lumpy year in terms of sequential growth and exposure to COVID-19.
- Initially, it was thought that contact lens markets would remain insulated from COVID-19, but results YTD highlight the portfolio's exposure to the pandemic.
- Q3 sales made a decent sequential recovery, although all came in lower on a YoY basis.
- The MiSight segment has promise, with management claiming a $5 billion global addressable market in myopia-related treatments in this segment over years to come.
- Based on tangible figures, we see a price target of $332, meaning long-term prospects may already be priced into the valuation.
For further details see:
The Cooper Companies: Lumpy Sales YTD Offset By MiSight Potential