Healthcare Stock to watch: Cooper Companies Inc (NYSE: COO)

Free $50 Forex No-Deposit Bonus

Cooper Companies Inc (NYSE: COO) stock generated over 27.2% in this year to date (Source: Finviz; as of December 6th, 2018)

COO in the fourth quarter of FY 18 has reported the adjusted earnings per share of $2.87, missing the analysts’ estimates for the adjusted earnings per share of $2.96. The company had reported the adjusted revenue growth of 16 percent to $651.5 million in the fourth quarter of FY 18, beating the analysts’ estimates for revenue of $645 million. CooperVision reported quarterly revenue of $481 million, up 9% or 10% pro forma with a noticeable uptick in our daily silicone hydrogel lenses showing pro forma growth of 50% driven by accelerating growth in both Clariti and MyDay. CooperSurgical reported record revenue of $171 million, up 40% or up 5% pro forma led by PARAGARD growing a healthy 20%.

CooperVision posted very strong revenue growth in all three regions with the Americas up 8%, EMEA up 9% and Asia-Pac up a strong healthy 19% all pro forma. The Americas strength was driven by Clariti and MyDay, with MyDay in particular gaining significant traction following the launch of the Toric a few quarters ago. EMEA also saw accelerating sales for Clariti and MyDay along with solid results from Biofinity and Avaira Vitality. Asia-Pac continued posting strong results driven by jumping Clariti along with strength in MyDay and Biofinity.

Growth in Asia-Pac remain highly diversified from a geographic and product portfolio perspective and the company are seeing strong returns on the investment activity in that region. In other products and categories, Biofinity and Avaira combined to grow 7%, with strikes seen in a number of markets around the world. Torics grew 11% and Multifocals grew 7%, all pro forma.

Moreover, daily lenses continue to drive the majority of the growth, and now accounting for roughly $4.4 billion or 52% of the market. And within dailies, silicone hydrogel lenses are 30% of total daily revenues and continue to be the primary growth driver growing 35%. With respect to New Fit Data, CooperVision continue to see significant strength, especially with respect to daily silicones. The shift to daily silicones from a reusable lenses generates roughly 2x to 3x more revenue and a 20% plus trade up from daily hydrogels.

Copyright © 2018. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.