The Cooper Companies, Inc. COO is well-poised for growth backed by strong prospects in both CooperVision (CVI) and CooperSurgical (CSI) business segments. However, forex remains a woe.Shares of the Zacks Rank #3 (Hold) company gained 9.6% compared with the industry’s growth of 8% on a year-to-date basis. The S&P 500 Index has rallied 20.1% in the same time frame.Cooper Companies — with a market capitalization of $19.64 billion — is a specialty medical device company operating on a global basis. It anticipates earnings to improve 11% over the next five years. The company has a trailing four-quarter earnings surprise of 6.9%, on average.Key CatalystsCooper Companies maintained its leading position in the markets of specialty lenses, supported by highly exclusive products of Biofinity and Clariti. In fact, the company’s flagship silicone hydrogel lenses are expected to deliver strong sales in the coming quarters. In the fiscal third quarter of 2021, the company witnessed substantial growth across CooperVision’s Toric, Multifocal, single-use sphere, Non-single use sphere sub units. It experienced improvement in sales on a geographic basis — with the Americas, EMEA and Asia Pacific exhibiting strength in the fiscal third quarter.The segment displayed solid performance in the fiscal third quarter, with the segment’s revenues of $557.5 million, up 20% at constant exchange rate (CER) and 24% on a reported basis. Per management, strength in silicone hydrogel lenses and myopia management contributed to the segmental uptick.Image Source: Zacks Investment ResearchIn the fiscal third quarter, MiSight, and Ortho K surged 187% and 68%, respectively. Per management, on the basis of current strength, the company continues to anticipate this portfolio to reach $65 million in revenues in fiscal 2021 (including MiSight delivering $20 million) and exceed $100 million in fiscal 2022.Cooper Companies is well positioned to benefit from the expanding CSI product portfolio. Per the fiscal third-quarter 2021 earnings call, CooperSurgical witnessed an excellent quarter with record revenue growth across all three focus areas — fertility, PARAGARD, and office and surgical medical devices. With respect to fertility, revenues grew 72% year over year to $83 million, exhibiting continued solid performance. Strength across the product portfolio and around the world contributed to the encouraging performance.CooperSurgical displayed strength in the fiscal third quarter, with revenues of $205.9 million, up 60% and 58% from the year-ago period on a constant currency and reported basis, respectively. The segment benefited from a strong fertility sub-segment and PARAGARD sales.Primary ConcernCooper Companies generates a significant portion of its revenues in foreign currencies. Fluctuations in foreign exchange rates may significantly mar its overseas revenues.Estimates TrendCooper Companies has been witnessing an upward estimate revision trend for fiscal 2021. In the past 90 days, the Zacks Consensus Estimate for its earnings has moved north by 0.2% to $13.33.The Zacks Consensus Estimate for the company’s fiscal fourth-quarter 2021 revenues is pegged at $748.5 million, suggesting growth of 9.8% from the year-ago reported number.Stocks to ConsiderSome better-ranked stocks from the broader medical space are West Pharmaceutical Services, Inc. WST, Henry Schein, Inc. HSIC and Patterson Companies, Inc. PDCO, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.West Pharmaceutical’s long-term earnings growth rate is estimated at 27.3%.Henry Schein’s long-term earnings growth rate is estimated at 13.9%.Patterson Companies’ long-term earnings growth rate is projected at 9.6%. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Henry Schein, Inc. (HSIC): Free Stock Analysis Report Patterson Companies, Inc. (PDCO): Free Stock Analysis Report The Cooper Companies, Inc. (COO): Free Stock Analysis Report West Pharmaceutical Services, Inc. (WST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research