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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) has declared a semi-annual dividend of 3 cents per share, as part of its ongoing annual dividend plan. This dividend will be payable on February 9, 2022, to stockholders recorded by January 21, 2022. The company operates two business units: CooperVision, which focuses on vision care products, and CooperSurgical, dedicated to women's health and medical devices. With over 12,000 employees and products available in over 100 countries, Cooper continues to enrich the lives of its customers globally.
CooperCompanies (NYSE: COO) reported strong financial results for Q4 and FY 2021. Revenue rose 11% YoY to $759.1 million in Q4, with full-year revenue increasing 20% to $2.92 billion. GAAP diluted EPS for Q4 stood at $2.21 (up 35%) and $59.16 for FY 2021 (up 1,131%). The company achieved record annual revenue and profits, with a gross margin of 66% in Q4. For FY 2022, the company forecasts revenue between $3.03 billion and $3.09 billion, indicating growth. CEO Al White emphasized continued market share gain in contact lenses and fertility sectors.
CooperCompanies (NYSE: COO) announced key leadership changes to enhance organizational growth. Effective February 1, 2022, Dan McBride, currently EVP and COO, will expand his role to include global leadership of human resources, legal, and corporate strategy, while maintaining oversight of CooperVision. Jerry Warner, previously EVP for Americas and Global Commercial Functions, will be promoted to President of CooperVision, managing all global functions within the unit. This restructuring aims to leverage industry expertise and strengthen strategic direction amid the company's growth trajectory.
Generate Life Sciences announces its agreement to be acquired by CooperCompanies (NYSE: COO), aiming to enhance CooperSurgical's capabilities in women's health and fertility. This strategic acquisition allows Generate to leverage CooperSurgical's global network in over 100 countries, increasing access to innovative reproductive and genetic services. Generate's products complement CooperSurgical's current offerings, potentially leading to improved patient options in assisted reproductive technology. The transaction awaits regulatory approval, with closing anticipated in Cooper's Fiscal first quarter.
GI Partners has signed a definitive agreement to sell Generate Life Sciences, a leader in reproductive and newborn stem cell services, to CooperCompanies (NYSE:COO). Generate Life Sciences, formed in 2018, combines industry leaders California Cryobank Life Sciences and Cord Blood Registry, serving nearly one million families globally. The transaction, which is subject to customary closing conditions, is expected to finalize in December 2021. This acquisition aims to enhance CooperCompanies' offerings in reproductive and genetic services, further expanding its global reach.
CooperCompanies (NYSE: COO) has announced its acquisition of Generate Life Sciences for approximately $1.6 billion. This strategic acquisition enhances CooperSurgical’s portfolio in fertility and newborn stem cell services, enabling better support for fertility clinics and Ob/Gyns. Generate Life Sciences, which reported $250 million in revenues over the last year, is projected to contribute $0.30 to Cooper’s non-GAAP earnings per share in the first year post-acquisition. The deal is set to close in early 2022, pending regulatory approval.
CooperCompanies (NYSE: COO) announced it will release its fourth quarter and full year 2021 financial results on December 2, 2021, at 4:15 PM ET. A conference call to discuss the results will follow at 5:00 PM ET. Interested parties can join by dialing 855-643-4430 (U.S.) or 707-294-1332 (International), using the passcode 'Cooper'. The call will be streamed live via the Investor Relations section of the CooperCompanies website and recorded for later access.
CooperVision, based in San Ramon, Calif., launched a new initiative called "Take Control: Myopia & You" aimed at raising awareness about childhood myopia. This initiative is a response to rising cases of myopia, potentially worsened by increased screen time during the COVID-19 pandemic. The campaign emphasizes the efficacy of MiSight® 1 day contact lenses, which significantly slow myopia progression in children aged 8-12. Spokespersons include young actor Alan Kim and actress Madison Reyes, promoting the program's benefits through direct personal experiences.
CooperCompanies (NYSE: COO) reported a strong fiscal Q3 2021, with revenues increasing by 32% year-over-year to $763.4 million. CooperVision's revenue grew by 24% to $557.5 million, while CooperSurgical saw a remarkable 60% increase to $205.9 million. GAAP diluted earnings per share reached $12.37, a substantial rise from $11.25 in Q3 2020. The company highlighted record performances in both segments, driven by product success and robust cash flow. The fiscal year 2021 guidance has been updated, projecting total revenues of $2.893 to $2.923 billion, reflecting continued growth potential.
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