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Cooper (COO) Buys LifeGlobal to Widen Fertility Device Line

The Cooper Companies, Inc. 's COO 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%.

Zacks Rank & Key Picks

Cooper Companies carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the broader medical sector are athenahealth, Inc. ATHN , Bio-Rad Laboratories, Inc. BIO and Centene Corporation CNC . Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

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%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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