Unlock: Cooper Companies (COO) – Closing Calls for +220% Gain

Highlights from the quarter:

– Q2 EPS $2.05 vs. $1.91 estimate, big beat
– Q2 Revenues $483M vs. $464M estimate, beat
– FY2016 EPS Guidance $8.35 vs. $8.29 estimate, beat
– FY2016 Revenue Guidance $1.94B vs. $1.9B estimate, beat

Jefferies this morning is reiterating Buy and raising price target from $175 to $190:

“The feedback from an initial contact lens survey suggested that the redesign of clariti 1-day was being well received and resulting in share gains. This played out in the quarter with SiHY daily growth accelerating to +52% where the clariti redesign was called out as a key driver. COO put up a $20mn/$0.14 beat and raised F16 guidance by $60mn/$0.20 at the midpoint. US growth was +9% versus flat for the overall market indicating a return to share gains which was driven by strength in clariti/MyDay and Biofinity. Looking ahead, some conservatism is baked-in for the pending JNJ monthly launch but as we mentioned in our prior note, this seems manageable from a number of vectors. Raising estimates and PT to $190.”

Here is my YouTube presented to JaguarOptions Pro clients on May 13 suggesting to get long calls with stock at $155 ahead of earnings. Trading at $171+ this morning. The June 155 calls have gone from $5.00 to $16.00 and July 155 calls have gone from $6.00 to $18.00.

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