Shares of Cooper Cos. are pacing the S&P 500's decliners Thursday after the maker of medical devices reported mixed results, issued soft guidance and wrapped up a strategic review without plans to seek a deal.
Medical-device stocks Cooper Companies Inc (NASDAQ:COO) and Axogen Inc (NASDAQ:AXGN) are both sharply lower following separate company developments, and options traders are chiming in.
The contact lens maker just sprung a surprise no one saw coming.
| Electronic Equipment, Instruments & Components Industry | Information Technology Sector | Albert G. White CEO | LSE Exchange | 216648501 CUSIP |
| US Country | 15,000 Employees | 11 Aug 2023 Last Dividend | 20 Feb 2024 Last Split | - IPO Date |
The Cooper Companies, Inc., established in 1958 and headquartered in San Ramon, California, is a global entity that specializes in the development, manufacture, and marketing of contact lenses through its subsidiaries. The operations of the company are segmented into CooperVision and CooperSurgical. CooperVision focuses on providing a variety of contact lenses including those for correcting nearsightedness, farsightedness, astigmatism, presbyopia, and myopia across various regions such as the Americas, Europe, Middle East, Africa, and Asia Pacific. On the other hand, CooperSurgical addresses family and women's health, offering a wide range of fertility products and services, medical devices, contraception, and cryostorage services for cord blood and tissue to healthcare professionals and patients globally. The products offered by The Cooper Companies, Inc. reach their end-users through distributors, group purchasing organizations, eye care and health care professionals, including independent practices, corporate retailers, hospitals, clinics, and authorized resellers.
CooperVision:
CooperSurgical: