NEW YORK (TheStreet) -- Cooper Companies (COO) shares are down -1.2% to $144.95 after Standard & Poor's lowered its 'BBB' credit rating to "negative" from "stable".
The firm does not agree with the medical device maker's plan to purchase Suaflon Pharmaceuticals, a contact lens manufacturer, for $1.2 billion due to the added debt the company will have to take on after the close of the deal.
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TheStreet Ratings team rates COOPER COMPANIES INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate COOPER COMPANIES INC (COO) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."