RTTNews | Sep 4, 2020 10:28AM EDT

10:28 Friday, September 4, 2020 (RTTNews.com) - Shares of medical device company The Cooper Companies, Inc. (COO) are rising more than 7% Friday morning after third-quarter earnings surpassed view.

The company also provided fourth-quarter outlook better than the Consensus estimates.

The Cooper Companies reported adjusted earnings of $2.28 per share, which beat the average estimate of analysts polled by Thomson Reuters at $1.52 per share.

Revenue for the quarter, however, decreased 15% year-over-year to $578.2 million.

For the fourth quarter, The Cooper expects revenue to be in the range of $665 million - $693 million and adjusted EPS to be in the range of $3.00 - $3.20. Analysts expect the company to report earnings of $2.82 per share on revenue of $661.73 million for the quarter.

COO is currently trading at $330.45. It has been trading in the range of $236.68- $365.68 in the last one year.

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