Cooper Companies Stock Hits 52-Week Low After Revenue Miss, Guidance Cut and Decision to Retain CooperSurgical

Cooper Companies shares plunged roughly 15% in after-hours and premarket trading on September 10, 2026, touching a 52-week low of $51.76, after the contact lens and women's health device maker delivered a triple blow: a revenue miss, a steep cut to full-year guidance, and an unexpected announcement that it would retain CooperSurgical after completing a strategic review that found no offer adequate for shareholders.

For the fiscal third quarter ended July 31, 2026, Cooper reported revenue of $1.07 billion, flat year-over-year and short of the $1.1 billion analyst consensus. Adjusted earnings per share of $1.15 beat the $1.12 estimate by $0.03. Management attributed the CooperVision revenue shortfall entirely to channel inventory destocking, not a decline in underlying demand, noting that U.S. consumption remained steady in the mid-single digits through Q3 and into Q4. Weakness in Asia Pacific, particularly China where MiSight myopia-control lens sales declined, added to the pressure.

The guidance revision was sharp. Full-year fiscal 2026 revenue is now expected between $4.229 billion and $4.252 billion, with a midpoint of $4.241 billion, well below the prior $4.31 billion consensus and down from the $4.28 to $4.32 billion range issued just last quarter. Full-year adjusted EPS guidance was cut to $4.51 to $4.55, with the midpoint of $4.53 trailing the $4.63 consensus. CooperVision's second-half organic growth, previously expected around 4%, is now projected to be roughly flat as destocking persists.

Equally jarring for investors was the conclusion of the CooperSurgical strategic review. The company said it received offers but determined that none were in shareholders' best interest, and will keep the surgical unit. CooperSurgical faces competitive pressure in the non-hormonal IUD market, a factor analysts noted weighed on valuations during the process. The retained unit recorded $307 million in record free cash flow in Q3, which management highlighted as a positive.

At least five brokerages moved swiftly to cut ratings or price targets. Baird downgraded Cooper to Neutral from Outperform and slashed its target to $59 from $86, citing weak sales. Piper Sandler cut its rating on weak results. William Blair downgraded on the earnings miss. BofA downgraded, citing CooperSurgical retention as a key concern. Wells Fargo and Needham both reduced price targets, with Needham cutting to $73, while Stifel lowered its target citing the strategic review outcome. Cooper's stock was the worst performer in the S&P 500 on the day.