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

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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.

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