Cooper Companies shares fell sharply Thursday after the medical-device maker reported fiscal third-quarter revenue below expectations and issued weaker-than-expected fourth-quarter guidance. Revenue rose 1% year over year to $1.066 billion, missing the $1.098 billion consensus estimate, while non-GAAP diluted earnings per share increased 4% to $1.15 and beat expectations of $1.12. The company said reduced U.S. channel inventory weighed on CooperVision and would continue affecting fourth-quarter results. It forecast fourth-quarter EPS of $1.05 to $1.09, below the $1.19 estimate, and revenue of $1.057 billion to $1.080 billion, below the $1.106 billion estimate. Shares had dropped 15.96% after hours Wednesday to $53.35 and were down 14% at $54.50 Thursday. Cooper completed a strategic review and decided to retain CooperSurgical, while increasing its share-repurchase authorization to $3 billion from $2 billion. CEO Al White said U.S. consumption grew at a mid-single-digit rate, despite the inventory adjustment. Analysts lowered price targets, although the stock retained a Buy consensus rating and an average target of $79. Technical indicators showed deeply oversold conditions, with an RSI of 15.05.