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The Cooper Companies, Inc. (NYSE: COO) is a global medical device company specializing in improving quality of life through innovative products and services. Headquartered in San Ramon, CA, Cooper operates through two main business units: CooperVision and CooperSurgical.CooperVision is a leader in the contact lens industry, offering a diverse range of high-quality contact lenses, including spherical, multifocal, toric, and specialty lenses. With brands like Proclear, Biofinity, MyDay, and Clariti, CooperVision commands roughly one-fourth of the US contact lens market. The company is committed to providing excellent practitioner support, ensuring that both users and professionals benefit from their cutting-edge solutions.
CooperSurgical, founded in 1990, focuses on women's health and fertility, offering market-leading products and treatment options. The division supplies clinicians with over 600 medical devices and treatment solutions related to reproductive care, fertility, and women's health. Notably, CooperSurgical owns Paragard, the only hormone-free IUD available in the US, holding a 17% share of the US IUD market. Additionally, CooperSurgical has the largest medical device coverage for the entire IVF cycle.
With a workforce of over 15,000 employees and products available in more than 130 countries, CooperCompanies is dedicated to delivering shareholder value while enhancing the lives of individuals globally. The company continues to innovate and expand, recently achieving record annual revenues and strong earnings. Noteworthy advancements include a four-for-one stock split set to become effective on February 16, 2024, and partnerships like that with Fulgent Genetics to offer exclusive newborn genetic screening panels through Cord Blood Registry.
Cooper's fiscal year 2023 showcased significant milestones, including double-digit organic growth in their fertility segment and strong performance in contact lenses. As they move into fiscal year 2024, Cooper remains focused on their strategic objectives: gaining market share, driving profitability, and launching innovative products and services.
For more information, please visit CooperCompanies.
CooperCompanies (Nasdaq: COO) has scheduled its fourth quarter and full year 2024 financial results announcement for Thursday, December 5, 2024, at 4:15 PM ET. The company will hold a conference call at 5:00 PM ET to discuss results and corporate developments. Interested parties can join via phone at 800-715-9871 using conference ID 2026064, or access the audio webcast through the investor relations website.
The Canadian Association of Optometrists (CAO) has launched a national campaign for Children Vision Month in October to raise awareness about myopia and the importance of annual eye exams for children. Myopia, affecting 30% of the population, is expected to increase to 50% by 2050. The campaign, supported by provincial optometrist associations and industry sponsors, aims to debunk myths and encourage early detection.
Key points:
- Myopia is a leading cause of vision loss globally
- Increased screen time is correlated with higher rates of myopia in children
- CAO recommends annual eye exams for children from 6-9 months to 19 years old
- Outdoor time may help delay myopia onset
- Limiting screen time and taking regular breaks are recommended
The campaign will run on various social media platforms throughout October, providing resources for parents to find local optometrists and take proactive steps for their children's eye health.
CooperCompanies (Nasdaq: COO) has been recognized as a Best Workplace for Innovators by Fast Company, highlighting its commitment to fostering innovation and employee development. The company's culture inspires the creation of new products and advocacy initiatives aimed at improving standard-of-care in the medical device industry.
Key points:
- CooperCompanies is a leading global medical device company
- The award recognizes organizations worldwide that encourage innovation at all levels
- CEO Al White emphasized the company's significant investments in people and innovation
- CooperCompanies also received recognition on the 2024 Top 100 Inspiring Workplaces in North America list
- The company achieved a perfect score of 100 on the Human Rights Campaign's Corporate Equality Index
CooperSurgical has launched a new single-hand inserter for its Paragard® Intrauterine Copper Contraceptive, recently approved by the FDA. This innovation simplifies the placement process for healthcare providers, making Paragard more accessible. Paragard, the #1 prescribed copper IUD, offers over 99% efficacy for up to 10 years and is hormone-free.
Key features of Paragard include:
- Immediate reversibility
- 30+ years of clinical use
- 91% satisfaction rate among users aged 25-50 after at least one year
- New inserter with built-in loading tip and single-hand functionality
The launch aligns with CooperSurgical's mission to deliver innovative solutions for patients and providers in women's healthcare.
CooperCompanies (Nasdaq: COO) reported strong Q3 2024 results with revenue up 8% year-over-year to $1,002.8 million. CooperVision revenue increased 7% to $675.6 million, while CooperSurgical revenue grew 9% to $327.2 million. GAAP diluted EPS rose 22% to $0.52, and non-GAAP diluted EPS increased 14% to $0.96. The company raised its fiscal year 2024 guidance, projecting total revenue of $3,892 - $3,913 million (8-8.5% organic growth) and non-GAAP diluted EPS of $3.64 - $3.67. Strong performance was attributed to successful execution of growth strategies and operational efficiency.
CooperCompanies (Nasdaq: COO), a leading global medical device company, has announced its participation in two upcoming investor conferences. The company will be represented by Al White, President & Chief Executive Officer, in fireside chats at both events:
1. 2024 Wells Fargo Healthcare Conference on Wednesday, September 4, 2024, at 3:45 pm ET
2. Morgan Stanley Annual Global Healthcare Conference on Thursday, September 5, 2024, at 1:50 pm ET
Investors and interested parties can access webcasts of both sessions through the CooperCompanies' website at http://investor.coopercos.com.
CooperCompanies (Nasdaq: COO) has announced the release date for its third quarter 2024 financial results. The company will report its earnings on Wednesday, August 28, 2024, at 4:15 PM ET. Following the release, CooperCompanies will host a conference call at 5:00 PM ET to discuss the results and current corporate developments. Investors and analysts can participate in the call by dialing 800-715-9871 with the conference ID 7528310. Additionally, a simultaneous audio webcast will be available, with a replay accessible later at http://investor.coopercos.com. This announcement provides shareholders and interested parties with the opportunity to stay informed about CooperCompanies' financial performance and future outlook.
CooperCompanies (Nasdaq: COO) has announced the acquisition of obp Surgical, a U.S.-based medical device company, for approximately $100 million. This strategic move expands CooperSurgical's portfolio with obp's suite of single-use cordless surgical retractors and suction devices, which generated around $14.5 million in trailing twelve-month revenue. The acquisition is expected to be neutral to Cooper's non-GAAP earnings per share in fiscal 2024 and accretive thereafter.
The integration of obp Surgical's ONETRAC™ portfolio complements CooperSurgical's existing surgical products, including INSORB®, Lone Star®, and the Doppler Blood Flow Monitor. This acquisition aligns with CooperCompanies' commitment to providing clinicians with a broader range of innovative surgical technologies and is set to be reported as part of its Office and Surgical category within the CooperSurgical business starting in fiscal Q4 2024.
Evolus (NASDAQ: EOLS), a performance beauty company, has appointed Albert G. White III to its Board of Directors, effective July 1. White is currently the President and CEO of The Cooper Companies and will also join Evolus' Compensation Committee.
Chairman Vik Malik emphasized White's extensive industry experience and leadership, noting that his expertise will support Evolus' transition from a single-product company to a multi-product beauty innovator. White expressed enthusiasm for joining Evolus at a pivotal time, highlighting the success of the company's flagship product, Jeuveau, and its promising pipeline of filler products.
White's extensive background includes roles as CEO, CFO, and Chief Strategy Officer at Cooper Companies, as well as positions in investor relations and treasury. Evolus' Board will now consist of seven directors, six of whom are independent.
CooperCompanies (Nasdaq: COO) announced its Q2 2024 financial results, showing a 7% year-over-year revenue increase to $942.6 million. CooperVision (CVI) revenue rose 8% to $635.9 million, while CooperSurgical (CSI) revenue increased 6% to $306.7 million. GAAP diluted EPS was $0.44, up 122% from last year's Q2. Non-GAAP diluted EPS was $0.85, a 10% increase. Gross margin held steady at 67%. Operating margin improved to 17% from 11% last year. Interest expense rose to $28.9 million due to higher debt and interest rates. Free cash flow was $36.9 million. The company raised its FY 2024 guidance, predicting total revenue of $3.863-$3.905 billion and non-GAAP EPS of $3.54-$3.60.
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