Cooper Stock Price, News & Analysis

CooperCompanies (Nasdaq: COO) reported strong Q3 2024 results with revenue up 8% year-over-year to $1,002.8 million. CooperVision revenue increased 7% to $675.6 million, while CooperSurgical revenue grew 9% to $327.2 million. GAAP diluted EPS rose 22% to $0.52, and non-GAAP diluted EPS increased 14% to $0.96. The company raised its fiscal year 2024 guidance, projecting total revenue of $3,892 - $3,913 million (8-8.5% organic growth) and non-GAAP diluted EPS of $3.64 - $3.67. Strong performance was attributed to successful execution of growth strategies and operational efficiency.

CooperCompanies (Nasdaq: COO), a leading global medical device company, has announced its participation in two upcoming investor conferences. The company will be represented by Al White, President & Chief Executive Officer, in fireside chats at both events:

1. 2024 Wells Fargo Healthcare Conference on Wednesday, September 4, 2024, at 3:45 pm ET

2. Morgan Stanley Annual Global Healthcare Conference on Thursday, September 5, 2024, at 1:50 pm ET

Investors and interested parties can access webcasts of both sessions through the CooperCompanies' website at http://investor.coopercos.com.

CooperCompanies (Nasdaq: COO) has announced the release date for its third quarter 2024 financial results. The company will report its earnings on Wednesday, August 28, 2024, at 4:15 PM ET. Following the release, CooperCompanies will host a conference call at 5:00 PM ET to discuss the results and current corporate developments. Investors and analysts can participate in the call by dialing 800-715-9871 with the conference ID 7528310. Additionally, a simultaneous audio webcast will be available, with a replay accessible later at http://investor.coopercos.com. This announcement provides shareholders and interested parties with the opportunity to stay informed about CooperCompanies' financial performance and future outlook.

CooperCompanies (Nasdaq: COO) has announced the acquisition of obp Surgical, a U.S.-based medical device company, for approximately $100 million. This strategic move expands CooperSurgical's portfolio with obp's suite of single-use cordless surgical retractors and suction devices, which generated around $14.5 million in trailing twelve-month revenue. The acquisition is expected to be neutral to Cooper's non-GAAP earnings per share in fiscal 2024 and accretive thereafter.

The integration of obp Surgical's ONETRAC™ portfolio complements CooperSurgical's existing surgical products, including INSORB®, Lone Star®, and the Doppler Blood Flow Monitor. This acquisition aligns with CooperCompanies' commitment to providing clinicians with a broader range of innovative surgical technologies and is set to be reported as part of its Office and Surgical category within the CooperSurgical business starting in fiscal Q4 2024.

Evolus (NASDAQ: EOLS), a performance beauty company, has appointed Albert G. White III to its Board of Directors, effective July 1. White is currently the President and CEO of The Cooper Companies and will also join Evolus' Compensation Committee.

Chairman Vik Malik emphasized White's extensive industry experience and leadership, noting that his expertise will support Evolus' transition from a single-product company to a multi-product beauty innovator. White expressed enthusiasm for joining Evolus at a pivotal time, highlighting the success of the company's flagship product, Jeuveau, and its promising pipeline of filler products.

White's extensive background includes roles as CEO, CFO, and Chief Strategy Officer at Cooper Companies, as well as positions in investor relations and treasury. Evolus' Board will now consist of seven directors, six of whom are independent.

CooperCompanies (Nasdaq: COO) announced its Q2 2024 financial results, showing a 7% year-over-year revenue increase to $942.6 million. CooperVision (CVI) revenue rose 8% to $635.9 million, while CooperSurgical (CSI) revenue increased 6% to $306.7 million. GAAP diluted EPS was $0.44, up 122% from last year's Q2. Non-GAAP diluted EPS was $0.85, a 10% increase. Gross margin held steady at 67%. Operating margin improved to 17% from 11% last year. Interest expense rose to $28.9 million due to higher debt and interest rates. Free cash flow was $36.9 million. The company raised its FY 2024 guidance, predicting total revenue of $3.863-$3.905 billion and non-GAAP EPS of $3.54-$3.60.

CooperCompanies released its 2023 Environmental, Social, and Governance (ESG) Report, highlighting their efforts in health, wellness, and environmental protection. The company made healthcare solutions more accessible in underserved communities and invested in global employee development. The report, aligned with the Sustainability Accounting Standards Board (SASB) framework, provides updated and expanded ESG performance data. CEO Al White emphasized the company's commitment to sustainability and innovation.

Find the full report at: https://coopercos.com/esg/

CooperCompanies (Nasdaq: COO), a global leader in medical devices, announced its participation in the Jefferies Global Healthcare Conference on June 6, 2024. Brian Andrews, the Executive Vice President, Chief Financial Officer & Treasurer, will represent the company in a session at 1:30 PM ET. The presentation will be accessible via a webcast on the CooperCompanies' investor relations website.

CooperCompanies (Nasdaq: COO), a global medical device firm, is set to participate in the William Blair Growth Stock Conference on June 5, 2024. Dan McBride, Executive Vice President & Chief Operating Officer, will represent the company in a session at 11:00 AM ET. Interested parties can view the webcast via the CooperCompanies' investor website.