Medical Devices - Vision Care & Women's Healthcare
Strategic Profile
CooperVision is a trusted leader in the contact lens industry, and CooperSurgical is a leading fertility and women's healthcare company. Management expects to at least match or outpace market growth in 2026 as MyDay supply constraints ease and new launches activate. The company's free cash flow is projected to reach $575-625 million in FY26, marking a significant year-over-year growth of 33-44%.
Cyborg Score Rationale
CooperCompanies demonstrated a robust financial performance with an operating margin of 27.0%, reflecting a year-over-year increase of 120 basis points and surpassing consensus expectations. However, the Fertility segment reported only 1% year-over-year sales growth, significantly below its historical growth trajectory, further indicating operational struggles amidst a competitive landscape. The recent trend from late 2025 to early 2026 is positive with a 12.7% price increase and strong buyer dominance, which could be interpreted as an early sign of recovery.
Top Insights
Management expects to at least match or outpace market growth in 2026 as MyDay supply constraints ease and new launches activate
Fertility segment growth is significantly below historical trajectory, indicating competitive pressures and operational challenges
OBP Surgical, a recent acquisition specializing in single-use lighted cordless surgical retractors, demonstrated exceptional growth of 31%
Cooper controls roughly one fourth of the US contact lens market with brands including Proclear, Biofinity, MyDay, and Clariti
Named Competitors
Ciba Vision — Leading contact lens manufacturer
ACUVUE — Premium contact lens portfolio
Bausch + Lomb Contact Lenses — Major contact lens competitor
Oculeve — Specialty contact lenses
Recent Developments
(January 2026) Board appointment: Walter M Rosebrough, Jr. appointed to Board of Directors
(Q3 FY2025) Reported first-ever billion-dollar revenue quarter with strong CooperVision and CooperSurgical growth
(FY2025) MiSight scheduled for launch in Japan in early fiscal 2026, alongside MyDay MiSight in EMEA
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