Cooper Stock Price, News & Analysis

CooperSurgical has launched a partnership with The Noble Paperie to introduce a line of greeting cards aimed at supporting individuals facing infertility. This initiative aligns with National Infertility Awareness Week and includes a commitment from CooperSurgical to donate fifty percent of the card sales proceeds to RESOLVE, an organization dedicated to changing the conversation around infertility. One in eight U.S. families face challenges in conception, and the cards are intended to offer support during difficult times, such as Mother's Day and Father's Day. The first three designs are available now, with more to follow throughout the year. This partnership reflects CooperSurgical's commitment to addressing the emotional impacts of infertility in addition to its scientific focus.

LivaNova PLC (Nasdaq: LIVN) announced the resignation of CEO Damien McDonald, effective immediately. William A. Kozy, Chair of the Board, will serve as interim CEO while the company searches for a permanent replacement. Kozy brings significant experience from his career at Becton Dickinson and as Vice Chair at The Cooper Companies. The company also reported preliminary Q1 2023 revenue of $263 million, marking a 9% increase compared to $240 million in Q1 2022. LivaNova is committed to maintaining its focus on growth and innovation during this transition, with full results set to be released on May 3, 2023.

CooperCompanies (NYSE: COO) reported a 9% year-over-year revenue increase in its fiscal Q1 2023, totaling $858.5 million, with CooperVision revenue at $581.3 million (up 4%) and CooperSurgical at $277.2 million (up 23%). GAAP diluted EPS fell to $1.70, down 11%, while non-GAAP diluted EPS decreased to $2.90, down 10%. Gross margin was 65%, and operating margin remained at 17%. Interest expenses rose significantly to $26.1 million due to higher rates. Cash flow from operations stood at $166.6 million, yielding $83.6 million in free cash flow. The company revised its FY 2023 revenue guidance to $3.496 - $3.553 billion, reflecting 7-9% organic growth.

CooperVision has launched the MyDay Energys® contact lenses in the U.S., designed to combat digital eye strain for users engaged in prolonged screen time. This innovative 1-day lens combines DigitalBoost™ and Aquaform® technologies, promoting comfort by hydrations and easing eye fatigue during device use. Clinical studies indicate 75% of wearers felt more comfortable, and 80% experienced reduced tiredness. The lenses are available in a range of sphere powers, include UV protection, and join the existing MyDay® family of products. CooperVision anticipates strong market acceptance following positive trial feedback.

CooperCompanies (NYSE: COO) will participate in the KeyBanc Life Sciences & MedTech Investor Forum on March 21, 2022. Brian Andrews, the Executive Vice President and CFO, will represent the company in a virtual session starting at 1:30 PM ET. Investors can access the live webcast on CooperCompanies' official website, with a replay available afterward. With a workforce exceeding 14,000, CooperCompanies operates through two main units: CooperVision, focusing on vision care products, and CooperSurgical, which specializes in women's health and fertility. The company serves markets in over 100 countries.