Cooper Stock Price, News & Analysis

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.

CooperCompanies (NYSE: COO) will participate in Oppenheimer’s 32nd Annual Healthcare Conference on March 16, 2022. The session, led by CFO Brian Andrews, starts at 3:20 PM ET and will be conducted virtually. Interested parties can access a live webcast of the presentation through the Investor Relations section of CooperCompanies’ website. A replay will be available after the event concludes. CooperCompanies focuses on medical devices through its two main units: CooperVision and CooperSurgical, catering to vision care and women’s health.

Cook Medical has signed a letter of intent to sell its Reproductive Health business to CooperCompanies for $875 million. The deal includes $675 million at closing and $200 million in four annual installments of $50 million each. This strategic move aims to enhance product offerings in women’s health and fertility solutions. Cook will continue manufacturing products for CooperSurgical for two years during the transition. The transaction is pending regulatory approvals and local consultations.

CooperCompanies (NYSE: COO) has announced a binding letter of intent to acquire Cook Medical's Reproductive Health business for approximately $875 million. The payment structure consists of $675 million at closing and $200 million paid in four annual installments of $50 million. The acquisition aims to enhance CooperSurgical's international fertility footprint, particularly in the Asia-Pacific region, and is expected to be accretive to non-GAAP earnings per share by approximately $0.60 in the first year. The transaction is subject to customary closing conditions.

CooperCompanies (NYSE: COO) will release its Q1 2022 financial results on March 3, 2022, at 4:15 PM ET. Following the release, a conference call will be held at 5:00 PM ET to discuss results and corporate developments. Participants can join via dial-in or through the Company's website. A recording will be available after the call until March 10, 2022. CooperCompanies focuses on medical devices, operating through two units: CooperVision and CooperSurgical, and employs over 12,000 individuals globally.

CooperCompanies (NYSE: COO) will present at the J.P. Morgan Healthcare Conference on January 11, 2022, at 2:15 PM ET. Al White, President and CEO, will lead the virtual session. Interested parties can access a live webcast on the Investor Relations section of the company's website, which will be available for 30 days post-event. CooperCompanies focuses on medical devices through its units, CooperVision and CooperSurgical, and employs over 12,000 people globally.