Welcome to our dedicated page for The Cooper Companies news (Ticker: COO), a resource for investors and traders seeking the latest updates and insights on The Cooper Companies stock.
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.
CooperSurgical has partnered with Ostro to enhance consumer engagement for its hormone-free IUD, Paragard, which prevents pregnancy for up to 10 years. This collaboration aims to provide personalized experiences on Paragard.com, featuring live Nurse Navigators to assist potential users. The partnership focuses on educating consumers about Paragard, promoting its benefits, and ensuring easier access to healthcare providers. Holly Sheffield, President of CooperSurgical, emphasizes empowering women through this initiative, while Dr. Chase Feiger, CEO of Ostro, expresses honor in collaborating on this health initiative.
CooperCompanies (NYSE: COO) reported a 12% revenue increase in Q4 2022, totaling $848.1 million, and a 13% full-year revenue increase to $3.3 billion. However, GAAP diluted EPS fell 40% in Q4, reaching $1.32, and 87% for the full year, at $7.76. Non-GAAP diluted EPS also showed declines, evidencing challenges despite record annual revenue driven by market share gains in contact lenses and fertility. The Company provided a 2023 revenue guidance of $3.46-$3.52 billion, indicating organic growth of 6%-8%. The outlook excludes pending acquisitions.
CooperCompanies (NYSE: COO) will release its fourth quarter and full year 2022 financial results on December 8, 2022, at 4:15 PM ET. A conference call to discuss these results and corporate developments will follow at 5:00 PM ET. Investors can join the call via the live dial-in number 800-715-9871, using conference ID 2291153, or through a webcast on the company’s investor relations website. A recording of the call will be available post-event until December 15, 2022.
CooperVision has integrated SynergEyes into its Specialty EyeCare unit, enhancing its specialty contact lens offerings. This partnership aims to improve treatment options for conditions like keratoconus and irregular corneas in North America and worldwide. The transition of SynergEyes' manufacturing to CooperVision's facility in Gilbert, Arizona is expected to begin in 2023. SynergEyes' hybrid lens products complement CooperVision's existing Onefit scleral lenses. The collaboration is anticipated to provide eye care practitioners with diverse options and advanced technologies for better patient care.
BioSkryb Genomics has entered a multi-year partnership with Cooper Genomics to license its high-resolution single-cell genomic amplification technology. This collaboration aims to enhance preimplantation genetic testing (PGT) in reproductive health, addressing infertility that affects 15% of couples globally. The agreement permits Cooper Genomics to market BioSkryb's ResolveDNATM technology, which significantly improves testing accuracy and embryo viability assessment, potentially increasing live birth rates and reducing miscarriage and multiple pregnancies.
CooperCompanies (NYSE: COO) has appointed Cynthia Lucchese as an independent director effective October 1, 2022. She will also join the Audit and Corporate Governance Committees. Lucchese brings a wealth of experience as Chief Strategy Officer of Penske Entertainment and has held significant roles at Hulman & Company, Thoratec Corporation, and Hillenbrand. Her extensive financial and strategic expertise is expected to enhance Cooper's board. CooperCompanies operates globally in medical devices with a workforce of approximately 14,000.
CooperVision emphasizes its leadership in myopia control at the upcoming International Myopia Conference in Rotterdam. Highlighting new research on the MiSight® 1 day contact lenses, the company will present findings from a seven-year clinical trial, underscoring its efficacy in myopia management. Senior executives will share insights on various optical interventions tailored for children, including the ortho-k portfolio. This event seeks to educate eye care professionals and raise awareness about myopia control, impacting tens of thousands of children.
CooperCompanies (NYSE: COO) reported fiscal Q3 results for the period ending July 31, 2022. Revenue rose 10% year-over-year to $843.4 million. CooperVision revenue increased 2% to $566.3 million, while CooperSurgical surged 35% to $277.1 million. GAAP diluted earnings per share fell to $1.98, down from $12.37 a year prior. Non-GAAP diluted EPS was $3.19, a decline of 6%. The company expects FY 2022 revenues between $3.29 - $3.31 billion. CEO Al White emphasized strong demand and successful strategic initiatives to enhance shareholder value.
CooperCompanies (NYSE: COO) will participate in the Wells Fargo Healthcare Conference on September 7, 2022, at 1:20 PM ET. President and CEO Al White will represent the company in this session. Interested parties can access a live webcast through the investor relations website. A replay will also be available post-event. Based in San Ramon, California, CooperCompanies operates globally with over 12,000 employees and offers a wide range of products through its divisions, CooperVision and CooperSurgical, serving over 100 countries.
CooperCompanies (NYSE: COO) has appointed Nicholas Khadder as its new general counsel and corporate secretary, effective immediately. Khadder brings extensive legal experience, having previously served as general counsel at Standard BioTools Inc. from June 2016 to July 2022 and held several senior roles at Amyris, Inc. and other companies. He holds a Juris Doctor from Berkeley Law. This leadership change is expected to enhance the company's legal strategy and governance.
FAQ
What is the current stock price of The Cooper Companies (COO)?
What is the market cap of The Cooper Companies (COO)?
What does The Cooper Companies, Inc. specialize in?
Where is The Cooper Companies, Inc. headquartered?
What are some of CooperVision's popular contact lens brands?
What makes CooperSurgical unique in the women's health market?
How many employees does The Cooper Companies, Inc. have?
What recent financial achievements has CooperCompanies reported?
In how many countries are CooperCompanies’ products available?
What recent partnerships has CooperSurgical announced?
What are CooperCompanies' strategic objectives for fiscal year 2024?
Where can I find more information about The Cooper Companies, Inc.?
