Cooper Reports In-Line 4Q, Although Competitive Pressures Loom; Maintaining FVE
The Cooper Companies reported fourth-quarter earnings in line with our expectations, and we plan to maintain our $230 per share fair value estimate and narrow moat rating. The quarter was driven by both a continued upgrade cycle to higher-margin lenses, as CooperVision’s operating margin improved to 27.3%, and growth in CooperSurgical, which was aided by recent acquisitions. The company announced a solid fiscal 2018 outlook modestly above our initial estimates, but we expect the reintroduction o...Cooper Companies is a global medical device company. The company operates through CooperVision and CooperSurgical business units. CooperVision is a manufacturer providing products for contact lens wearers. CooperVision designs its products for astigmatism, presbyopia, myopia, ocular dryness and eye fatigues with a collection of spherical, toric and multifocal contact lenses. CooperVision is engaged in myopia management and specialty eye care markets with products, such as orthokeratology and scleral lenses. CooperSurgical focuses on improving the health of women, babies and families through a portfolio of products and services including medical devices, fertility, diagnostics and contraception.
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