The Cooper Companies, Inc. - COO STOCK NEWS

CooperCompanies has appointed Robert S. Weiss as Chairman and William A. Kozy as Vice Chairman and Lead Director, effective March 23, 2021. Weiss, with extensive experience in the medical device industry, succeeds A. Thomas Bender, who retired in December 2020. Kozy joins the board bringing experience from Becton Dickinson, succeeding Allan E. Rubenstein, M.D.. The leadership changes aim to drive growth and ensure positive stakeholder impact.

Vuzix Corporation (NASDAQ: VUZI) announces the deployment of its M400 Smart Glasses at CooperVision's distribution center in West Henrietta, NY. This implementation, utilizing LogistiVIEW's Vision+ augmented reality software, aims to enhance operational efficiency through hands-free picking guidance. The 275,000 sq ft facility manages over 120,000 contact lens products. Key executives from both companies highlight the positive impact of this technology in streamlining warehouse operations.

TMRW Life Sciences announces the appointment of Brian E. Miller, PhD, as Senior Vice President of Sales, effective March 5, 2021. With over 25 years in the fertility industry, Miller will drive the deployment of TMRW's innovative technology to U.S. fertility clinics and aid in the development of new products. Previously at CooperSurgical, he has extensive experience in biotech and pharma sales. His appointment follows TMRW's commercial launch in February 2021, as the company aims to revolutionize cryo-management in IVF with its automated platform.

CooperCompanies reported a 5% year-over-year revenue growth in Q1 fiscal 2021, reaching $680.5 million. CooperVision's revenue grew 4% to $507.0 million, while CooperSurgical increased 8% to $173.5 million. GAAP diluted EPS rose to $42.31, up from $40.49 last year. The company announced fiscal 2021 guidance, projecting total revenue between $2,800 million and $2,845 million. Operating margin improved to 20%, while free cash flow was $91.8 million. Despite positive performance, COVID-19 remains a risk factor for future operations.

CooperCompanies (NYSE: COO) will participate in the KeyBanc Life Sciences MedTech Investor Forum on March 24, 2021. Brian Andrews, the Executive Vice President and CFO, will represent the company in a virtual session starting at 1:15 PM ET. A live webcast will be accessible on Cooper's Investor Relations website, with an archived audio file available later that day. CooperCompanies is a global leader in medical devices, operating through CooperVision and CooperSurgical, and is headquartered in San Ramon, CA.

CooperCompanies (NYSE: COO) has acquired Safe Obstetric Systems, a UK-based medical device manufacturer, for approximately £37.5 million in cash, plus a potential contingent payment of up to £10 million based on future revenue growth. The acquisition centers on the Fetal Pillow®, an FDA-approved device that aids in cesarean deliveries. Generating £3.5 million in revenue in 2020, the acquisition is expected to have a neutral impact on Cooper's non-GAAP earnings per share for fiscal 2021. This move aligns with CooperSurgical's mission to enhance women's healthcare.

CooperCompanies (NYSE: COO) will participate in the Oppenheimer 31st Annual Healthcare Conference on March 17, 2021. The session, representing CooperVision, will be led by Executive Vice President and COO Daniel McBride at 1:10 PM ET. Investors can access a live webcast through CooperCompanies' Investor Relations webpage, with an archived audio replay available later that day. CooperCompanies operates globally, focusing on vision care and women's health through its divisions, CooperVision and CooperSurgical, with a workforce exceeding 12,000.

CooperCompanies (NYSE: COO) will announce its first quarter 2021 financial results on March 4, 2021, at 4:15 PM ET. Following the announcement, a conference call will take place at 5:00 PM ET to discuss the financial results and recent developments. The conference call can be accessed by dialing 855-643-4430 in the U.S. or 707-294-1332 internationally, with the passcode 'Cooper'. A replay of the call will be available until March 11, 2021. CooperCompanies operates in vision care and women's health, with a global workforce exceeding 12,000.

EssilorLuxottica and CooperCompanies have announced a joint venture to acquire SightGlass Vision, a U.S. company innovating spectacle lenses to combat myopia progression in children. This 50/50 venture aims to leverage both companies' expertise to enhance the commercialization of SightGlass Vision's lenses, complementing existing products like Essilor's Stellest lens and CooperVision's MiSight. Myopia affects 2.6 billion globally, expected to rise to 5 billion by 2050, making this collaboration essential in addressing this eye health crisis.