Cooper Reports In-Line 2Q; Exiting Carrier Screening
Narrow-moat Cooper Companies reported a solid second quarter that was in line with our expectations, driven by a strong lens market and the resolution of integration struggles after the firm's $1.1 billion acquisition of Teva's Paragard IUD. After incorporating a $24 million impairment from Cooper's exit from carrier screening and noninvasive prenatal testing and the recent $125 million acquisition of in vitro fertilization device firm LifeGlobal, we do not expect a material change to our $230 f...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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