Cooper Companies Failed to Sell CooperSurgical at Attractive Valuation, BofA Says

11:13 AM EDT, 09/10/2026 (MT Newswires) -- Cooper Companies (COO) could not sell CooperSurgical at an attractive valuation given competition from the Paragard intrauterine device and the fertility litigation settlement, and the lack of buyers likely leads investors to view CooperSurgical as a structurally lower valuation asset and removes any sum-of-the-parts optionality for a while, BofA Securities said Thursday. The company lowered its CooperVision guidance for the second time this year to 1% to 2% growth from 3.5% to 4.5% previously. Cooper has fallen short of guidance and lowered its outlook too often over the last couple of years, according to the note. The downward revision in CooperVision is due to inventory destocking in the US. Excluding the inventory destocking, CooperVision would have grown 5%, compared with the 2% decline in fiscal Q3. The destocking is expected to conclude in fiscal Q4, BofA said. The company sees current contact lens market growth at 4% to 4.5% and believes CooperVision can grow back in line with the market in 2027, the analysts said. BofA downgraded Cooper Companies to neutral from buy and lowered its price target to $65 from $80. Shares of the company fell more than 13% in recent Thursday trading activity. Price: 54.75, Change: -8.74, Percent Change: -13.76