Cooper Stock Price, News & Analysis

CooperCompanies (NYSE:COO) announced the retirement of A. Thomas Bender and Allan E. Rubenstein, M.D., who will not seek re-election at the March 2021 Annual Meeting of Stockholders. Bender, with Cooper since 1991, significantly restructured the company, driving growth and international expansion. Rubenstein, with 29 years of service, contributed to strategic and clinical enhancements. Both have played vital roles in shaping Cooper into a leading global medical device company, with over 12,000 employees and products in over 100 countries.

CooperCompanies (NYSE: COO) reported its fiscal fourth quarter and full year results for the period ending October 31, 2020. Revenue fell by 1% year-over-year to $681.6 million, with CooperVision down 1% to $506.3 million, and CooperSurgical down 4% to $175.3 million. GAAP diluted EPS was $1.64, a 32% decrease from the prior year. Non-GAAP diluted EPS also dropped 4% to $3.16. Despite these declines, the company reported taking market share in its contact lens and fertility sectors.

CooperCompanies (NYSE: COO) announced the election of Teresa S. Madden to its Board of Directors, effective December 1, 2020. President and CEO Al White expressed enthusiasm about Madden's operational and financial expertise, which is expected to support Cooper's growth. Madden's background includes significant roles in Enbridge, Peabody Energy, and Xcel Energy, where she served as CFO. Her extensive experience in finance and governance is viewed as a valuable addition to the board as Cooper continues to expand its business.

CooperVision is expanding its Brilliant Futures^™ Myopia Management Program to several countries including the UK, Russia, Spain, Portugal, Canada, South Korea, and Taiwan, building on success in the US. The program, which includes the MiSight^® 1 day contact lens, aims to set a new standard of care by enhancing patient compliance and outcomes. Over 1,500 eye care professionals in the US are certified to fit MiSight^®. With a nationwide advertising campaign and new approvals in international markets, CooperVision seeks to address rising myopia rates, particularly among children.

CooperCompanies (NYSE: COO) announced that it will release its fourth quarter and full year 2020 financial results on December 3, 2020, at 4:15 PM ET. A conference call will follow at 5:00 PM ET to discuss these results and current developments. Participants can join via a dedicated dial-in number or through a live webcast on the CooperCompanies investor relations website. A recording of the call will be available until December 10, 2020. CooperCompanies operates two units: CooperVision and CooperSurgical, focusing on vision care and women's health, respectively.

CooperSurgical and NYU Langone Fertility Center's recent study has shown that the PGTai 2.0 technology significantly enhances ongoing pregnancy and live birth rates in IVF procedures. Presented at the ASRM Annual Meeting, the study analyzed over 700 patients and found a 13% relative increase in successful outcomes compared to earlier methods. This advancement utilizes artificial intelligence for improved embryo assessment, aligning with the company's goal of optimizing reproductive success.

CooperVision reported findings from its six-year MiSight® 1 day clinical study, revealing that 23% of children's eyes remained stable for myopia. The study highlighted the lens's efficacy in myopia management, demonstrating a continued excellent safety profile and visual acuity over 653 wearing years. Although early intervention is ideal, initiating treatment later can still effectively slow myopia progression. CooperVision's MiSight® is the only FDA-approved lens for this purpose in children aged 8-12, forming the core of its Brilliant Futures™ program, recently expanded to several countries.

CooperCompanies (NYSE: COO) reported a 15% decline in fiscal Q3 revenue to $578.2 million, with CooperVision and CooperSurgical revenues falling 12% and 24%, respectively. GAAP diluted EPS was $1.12, down 53% year-over-year, while non-GAAP diluted EPS decreased 30% to $2.28. Despite COVID-19 challenges, the company noted a faster-than-anticipated recovery and provided Q4 revenue guidance of $665-$693 million. Operating and gross margins also saw reductions, attributed to heightened COVID-related expenses. The debt at the end of the quarter stood at $1.88 billion, with cash equivalents of $127.4 million.