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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.
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CooperCompanies (NYSE: COO) reported a 9% year-over-year revenue increase in its fiscal Q1 2023, totaling $858.5 million, with CooperVision revenue at $581.3 million (up 4%) and CooperSurgical at $277.2 million (up 23%). GAAP diluted EPS fell to $1.70, down 11%, while non-GAAP diluted EPS decreased to $2.90, down 10%. Gross margin was 65%, and operating margin remained at 17%. Interest expenses rose significantly to $26.1 million due to higher rates. Cash flow from operations stood at $166.6 million, yielding $83.6 million in free cash flow. The company revised its FY 2023 revenue guidance to $3.496 - $3.553 billion, reflecting 7-9% organic growth.
CooperVision has launched the MyDay Energys® contact lenses in the U.S., designed to combat digital eye strain for users engaged in prolonged screen time. This innovative 1-day lens combines DigitalBoost™ and Aquaform® technologies, promoting comfort by hydrations and easing eye fatigue during device use. Clinical studies indicate 75% of wearers felt more comfortable, and 80% experienced reduced tiredness. The lenses are available in a range of sphere powers, include UV protection, and join the existing MyDay® family of products. CooperVision anticipates strong market acceptance following positive trial feedback.
CooperCompanies (NYSE: COO) will participate in the KeyBanc Life Sciences & MedTech Investor Forum on March 21, 2022. Brian Andrews, the Executive Vice President and CFO, will represent the company in a virtual session starting at 1:30 PM ET. Investors can access the live webcast on CooperCompanies' official website, with a replay available afterward. With a workforce exceeding 14,000, CooperCompanies operates through two main units: CooperVision, focusing on vision care products, and CooperSurgical, which specializes in women's health and fertility. The company serves markets in over 100 countries.
CooperCompanies (NYSE: COO) will participate in Oppenheimer’s 33rd Annual Healthcare Conference on March 14, 2022, with a virtual session starting at 2:40 PM ET. The event will be represented by Brian Andrews, Executive Vice President, Chief Financial Officer & Treasurer.
Investors can access the webcast on the CooperCompanies’ website, with a replay available post-event. Cooper operates through two primary business units: CooperVision and CooperSurgical, focusing on vision care and women's health, respectively. The company is headquartered in San Ramon, CA, employs over 14,000 individuals, and sells products in over 100 countries.
CooperSurgical has launched an educational campaign featuring Chrissy Teigen to promote the benefits of banking newborn stem cells via Cord Blood Registry (CBR). The campaign emphasizes the potential medical benefits of cord blood and tissue, including emerging regenerative medicine applications. CBR stands as the largest family newborn stem cell preservation company globally, with over 700 samples released for transplants and therapies. Teigen's partnership aims to resonate with parents, as she highlights the importance of accessing current and future treatments for children. The initiative will utilize various media channels to inform families about this vital option.
CooperCompanies (NYSE: COO) will report its first quarter 2023 financial results on March 2, 2023, at 4:15 PM ET. An accompanying conference call will follow at 5:00 PM ET to discuss the results and corporate developments. Interested parties can call 800-715-9871 with conference ID 1757767. The conference call will also be available via an audio webcast on Cooper’s investor relations website, with a replay accessible soon after. CooperCompanies operates through two divisions: CooperVision and CooperSurgical, focusing on vision care and women’s health, respectively. The company employs over 14,000 individuals and sells products in over 100 countries.
CooperSurgical announced that the National Institute for Health and Care Excellence (NICE) has recommended the use of their Fetal Pillow device during cesarean sections when a baby's head becomes stuck in the pelvis. This guidance is expected to enhance clinical practice and improve patient outcomes, particularly by shortening hospital stays by an average of one day and reducing surgery time by 20 minutes. A significant 97% of U.S. physicians surveyed indicated they would recommend the Fetal Pillow to others. This endorsement is projected to increase the device's adoption in the UK alongside CooperSurgical's mission to enhance women's health.
CooperSurgical has announced that over 11,000 families have enrolled in its Newborn Possibilities Program, which offers free cord blood and tissue processing, along with five years of storage for families with qualifying medical needs. CBR, a brand under CooperSurgical, is recognized as the largest family newborn stem cell preservation company, emphasizing the potential life-changing benefits of cord blood and tissue for regenerative medicine. The enrollment program helps families with newborns who have specific health conditions, providing crucial access to stem cell therapy.
CooperCompanies (NYSE: COO) has announced its annual stockholders meeting scheduled for March 15, 2023. Stockholders on record as of the end of January 19, 2023, will be permitted to vote on matters outlined in the company's proxy statement, including the election of directors. The company, headquartered in San Ramon, CA, operates two main business units: CooperVision and CooperSurgical, focusing on vision care and women's health respectively.
CooperCompanies (NYSE: COO) has announced a semi-annual dividend of 3 cents per share, reflecting its commitment to return income to shareholders. This dividend is payable on February 10, 2023, to stockholders of record as of January 23, 2023. The decision aligns with the company’s board-approved plan for annual dividends, showcasing its financial stability and ongoing support for its investors.
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