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Strategies & Market Trends : Three Amigos Stock Thread
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To: JKraft who wrote (15595)5/24/1999 8:14:00 PM
From: Sergio H  Read Replies (1) of 29382
 
COO

Joanie, I've been holding COO for about a month or two. My target is $30 short term.

<Cooper Companies (NYSE: COO - Quotes, News, Boards) develops and markets contact lenses and surgical instruments. The stock has jumped 37% to $22 per share in the past two weeks on the company announcement that it should beat the $0.34 per share second quarter estimate. This would be a 31% increase from the year-ago period and nearly double the $0.18 earned in first quarter '99. The company credited improved margins as it begins to integrate its purchase of Aspect Vision Care, an acquisition that increased Cooper's debt to uncomfortable levels and sent the stock from $40 last April to a low of $11.75 this past February. Coopers contact lens sales rank third behind Johnson & Johnson (NYSE: JNJ - Quotes, News, Boards) and Bausch & Lomb (NYSE: BOL - Quotes, News, Boards). Its one-month replacement lens, Frequency 55, will become available to a broader array of cases by the end of April. Despite the recent run-up, the stock is still well off its 52-week high of $40.62. The company expects to earn $2 per share in fiscal (October) 2000. This means its stock is trading at 11 times next year's estimate -- still relatively cheap.
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