Benzinga | Sep 4, 2020 02:57PM EDT

Why Cooper Companies Stock Is Trading Higher Today

The Cooper Companies (NYSE:COO) shares are trading higher Friday after the company reported better-than-expected third-quarter EPS and sales results.

The Cooper Companies operates two units: CooperVision and CooperSurgical. Accounting for approximately 75% of total sales, CooperVision is the second-largest player in the oligopolistic contact lens market. Over 50% of CooperVision's sales are in international territories.

The second unit, CooperSurgical, develops and manufactures diagnostic and surgical products for gynecologists and obstetricians, including the Paragard IUD, which Cooper acquired from Teva in 2017.

The Cooper Companies shares were trading up 6.09% at $326.45 on Friday during the time of publication. The stock has a 52-week high of $365.68 and a 52-week low of $236.68.