The Cooper Companies, Inc. - COO STOCK NEWS

CooperCompanies (NYSE: COO) declared a semi-annual dividend of 3 cents per share, payable on August 11, 2022, to stockholders of record on July 27, 2022. This move aligns with the company’s board-approved strategy to distribute annual dividends. CooperCompanies operates through CooperVision and CooperSurgical, focusing on vision care and women's health products, respectively. The company is headquartered in San Ramon, CA, and employs over 12,000 people globally, with sales in more than 100 countries.

CooperCompanies (NYSE: COO) reported a 15% year-over-year revenue increase to $829.8 million for its fiscal second quarter ending April 30, 2022. CooperVision revenue rose 6% to $553.8 million, while CooperSurgical surged 40% to $276.0 million. GAAP diluted EPS was $2.55, up $0.19, while non-GAAP diluted EPS fell 4% to $3.24. Operating margin decreased to 16% from 20% due to currency effects. The company updated fiscal 2022 revenue guidance to $3,280 - $3,312 million.

CooperVision has appointed Alex Wilkes as President of the Americas, effective June 14, 2022. Wilkes, with over a decade of experience in the eye care industry, previously served as Senior VP and GM of Pearle Vision at Luxottica. He will oversee growth strategies for the U.S., Canada, and Latin America. Mark Harty, EVP and Chief Commercial Officer, emphasized Wilkes' success in driving growth and market strategies. Wilkes expressed enthusiasm about joining CooperVision, aligning with its values and innovative product direction.

CooperCompanies (NYSE: COO) will participate in the Jefferies Healthcare Conference on June 9, 2022, at 1:00 PM ET. Al White, the President and CEO, will represent the company during this session.

The event can be accessed via CooperCompanies’ website, with a replay available 48 hours post-event. CooperCompanies is a global medical device firm operating through CooperVision and CooperSurgical, focusing on vision care and women's health products. Headquartered in San Ramon, CA, the company employs over 12,000 people and sells products in more than 100 countries.

CooperCompanies (NYSE: COO) has published its 2021 ESG Highlights Report, detailing ESG progress relevant to stakeholders. Highlights include a 100% score on the Human Rights Campaign’s Corporate Equality Index, gender parity on the Board, and 35% ethnic diversity in the workforce. Cooper became a participant in the UN Global Compact initiative.

CooperCompanies (NYSE: COO) announced that it and Cook Medical received a second request from the FTC regarding the acquisition of Cook Medical’s Reproductive Health business. This request, part of the HSR Act's regulatory process, extends the waiting period until compliance is achieved. The companies are collaborating with the FTC and anticipate closing the deal by the end of 2022.

Cooper operates two business units: CooperVision and CooperSurgical, focusing on medical devices and fertility solutions.

EssilorLuxottica and CooperCompanies have finalized their joint venture agreement for SightGlass Vision, focusing on innovative myopia management technologies. This collaboration aims to commercialize Diffusion Optics Technology™, which can potentially slow myopia progression in children by scattering light to reduce retinal contrast. With myopia affecting 2.6 billion globally, the partnership aims to enhance awareness and access to solutions. The lenses are not yet approved for sale in the U.S., marking an important step in addressing the rising myopia prevalence projected to impact half of the global population by 2050.

A recent peer-reviewed study published in Optometry and Vision Science confirms that CooperVision's MiSight® 1 day contact lenses effectively control myopia in children. The six-year trial shows that 90% of myopic children benefit from the lenses, with a sustained slowing of eye growth observed over time. The study reveals that treatment effects are particularly strong in younger and faster-progressing children. CooperVision reinforces its commitment to myopia management, aiming to provide effective solutions for vision care.

CooperCompanies (NYSE: COO) reported a strong first quarter for fiscal 2022, with revenue rising 16% to $787.2 million. CooperVision's revenue increased 11% while CooperSurgical saw a notable 30% rise. GAAP diluted earnings per share were $1.91, significantly impacted by a previous year's tax benefit. Non-GAAP diluted EPS was $3.24, up 2% year-over-year. The company faces risks from the COVID-19 pandemic and geopolitical tensions, prompting revised financial guidance for total revenue between $3,261 million and $3,329 million for fiscal 2022.