The Cooper Companies Inc. (COO): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report

The Cooper Companies Inc COO, based in Pleasanton, California, is a specialty medical products company operating on a global basis. It has two business segments, CooperVision CVI and CooperSurgical CSI. Following the takeover of Ocular Sciences in Jan 2005, CooperVision became the third largest contact lens manufacturer in the world. In addition, the acquisition provided Cooper with new technologies, a more efficient manufacturing process by integrating Ocular's Gen II platform, and access to new regional markets, predominantly in Germany and Japan. Cooper holds third position in the $7.2 billion global contact lens industry with an estimated market share of about 18%.

CooperVision (80.0% of revenues in fiscal 2013) manufactures and sells a wide range of contact lenses. The division is committed to improving the contact lens experience for both patients and medical practitioners.

This segment has gained from recent progress in optics and lens material to create proprietary lenses that can treat different kinds of visual defects. It specializes not only in toric lenses that correct astigmatism, but also cosmetic lenses that help reset the appearance of the color of the eye, multifocal lenses that correct presbyobia, and other types of lenses such as those managing ocular dryness. Its principal products include disposable toric lenses, planned replacement toric lenses, and spherical lenses.

CooperSurgical (20.0%) sell a variety of medical devices and surgical instruments that are primarily utilized by gynecologists and obstetricians. This strategic business unit has pursued a strategy of consolidation by acquiring critical treatment niches in a fragmented market.