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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 (NYSE: COO) reported a 15% decline in fiscal Q3 revenue to $578.2 million, with CooperVision and CooperSurgical revenues falling 12% and 24%, respectively. GAAP diluted EPS was $1.12, down 53% year-over-year, while non-GAAP diluted EPS decreased 30% to $2.28. Despite COVID-19 challenges, the company noted a faster-than-anticipated recovery and provided Q4 revenue guidance of $665-$693 million. Operating and gross margins also saw reductions, attributed to heightened COVID-related expenses. The debt at the end of the quarter stood at $1.88 billion, with cash equivalents of $127.4 million.
CooperCompanies (NYSE: COO) will participate in the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 23, 2020, at 3:20 pm ET. Senior Vice President and CFO Brian Andrews will represent the company in a virtual session. Investors can access the session via a webcast available on the Investor Relations section of Cooper's website. CooperCompanies operates through two main units: CooperVision, focusing on vision care, and CooperSurgical, dedicated to women's health and fertility. The company has over 12,000 employees globally.
CooperVision has announced Sarah Michelle Gellar as the spokesperson for its Brilliant Futures™ Myopia Management Program, aimed at increasing awareness of myopia among children. The program features the MiSight® 1 day lens, FDA-approved to slow myopia progression in children aged 8-12. With myopia affecting over 40% of Americans, CooperVision emphasizes the importance of early intervention during a time of increased screen usage.
The campaign includes national advertising and collaboration with the National Association of School Nurses to educate parents about myopia management.
CooperCompanies (NYSE: COO) will participate in the Morgan Stanley Virtual 18th Annual Global Healthcare Conference on September 16, 2020, with Senior VP and CFO Brian Andrews leading the presentation starting at 2:45 pm ET. Interested investors can access the session via a webcast on Cooper's Investor Relations website.
Cooper operates globally with two main units: CooperVision, focusing on vision care products, and CooperSurgical, dedicated to women's health and fertility solutions. The company has over 12,000 employees and products available in more than 100 countries.
CooperCompanies (NYSE: COO) will participate in the 2020 Wells Fargo Virtual Healthcare Conference on September 10, 2020, at 1:20 pm ET. CEO Al White will represent the company during this session. A webcast of the presentation will be available on the Investor Relations section of Cooper's website, ensuring accessibility for stakeholders and investors. CooperCompanies is a global medical device firm operating through CooperVision and CooperSurgical, focusing on vision care and women's health products with a workforce exceeding 12,000 across more than 100 countries.
CooperCompanies (NYSE: COO) will announce its third quarter 2020 financial results on September 3, 2020, at 4:15 PM ET. Following the release, a conference call will take place at 5:00 PM ET to discuss these results and other corporate developments. Interested participants can join the call by dialing 855-643-4430 (U.S.) or 707-294-1332 (International) with the passcode 'Cooper'. A simultaneous webcast will be available on the company's website, and a recording will be accessible from September 3 through September 10, 2020.
CooperCompanies (NYSE: COO) has declared a semi-annual dividend of 3 cents per share, payable on August 7, 2020, to stockholders of record on July 23, 2020. This decision aligns with the company's commitment to pay annual dividends as approved by its board of directors. CooperCompanies operates through two key divisions: CooperVision, focused on vision care products, and CooperSurgical, dedicated to women's health and fertility solutions, with products available in over 100 countries.
CooperCompanies announced the appointment of Holly Sheffield as President of CooperSurgical, effective July 13, 2020, following the retirement of Robert Auerbach. Auerbach will remain in an advisory role until February 1, 2021. Sheffield has been with Cooper since June 2018 as Executive VP and Chief Strategy Officer, previously serving at UBS Securities LLC. CEO Albert White expressed confidence in Sheffield's leadership capabilities, highlighting a seamless transition ahead for the company.
CooperCompanies (NYSE: COO) reported a 20% decline in revenue for Q2 2020, totaling $524.9 million, impacted by the COVID-19 pandemic. CooperVision's revenue decreased 17% to $402.2 million, while CooperSurgical saw a 28% drop to $122.7 million. GAAP diluted EPS fell 91% to $0.23, while non-GAAP EPS was $1.51, down 48%. Operating margins dropped significantly to 5% from 22% year-over-year. The company has suspended its fiscal year 2020 guidance due to uncertainty.
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