We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cooper (COO) Buys LifeGlobal to Widen Fertility Device Line
Read MoreHide Full Article
The Cooper Companies, Inc.’s (COO - Free Report) CooperSurgical segment recently purchased The LifeGlobal Group assets for approximately $125 million.
Based in Connecticut, The LifeGlobal Group is a leading global provider of in-vitro fertilization (IVF) devices. The company recorded revenues of approximately $24 million in 2017 and it’s expected to grow mid- to-upper-single digits in the coming years. The transaction is likely to be neutral to earnings per share in fiscal 2018 and contribute thereafter.
Per management, the acquisition complements CooperSurgical’s fertility solution portfolio. It will further fortify Cooper’s position as a supplier of medical devices used by gynecologists and obstetricians.
CooperSurgical in Focus
CooperSurgical, one of the primary business segments of Cooper Companies, recorded revenues worth $145 million, which reflects a 32% year-over-year increase. Furthermore, the segment forayed outside the United States to become the largest IVF player globally through the acquisition of Denmark-based Origio.
Market Prospects
Per a research conducted by Allied Market Research, the IVF Services market generated revenues of $9,876 million in 2016 and is expected to reach $19.676 million by 2023, at a CAGR of 10.5% from 2017 to 2023.
Hence it can be concluded that the latest move by Cooper Companies has been a timely and strategic one.
Price Performance
In the past year, Cooper Companies’ shares have gained 12.2%, compared with the industry’s gain of 4.5%.
athenahealth has an expected long-term growth rate of 17.7% and projected earnings per share growth rate of 21.5%.
Bio-Rad has an expected long-term growth rate of 20% and projected earnings per share growth rate of 20%.
Centene has an expected long-term growth rate of 14.4% and projected earnings per share growth rate of 14.4%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Cooper (COO) Buys LifeGlobal to Widen Fertility Device Line