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Stock Alert: Cooper Shares On The Increase

Shares of medical products company The Cooper Companies, Inc. (COO) was up 2.35% n Wednesday before closing at $343.85, a few cents below its 52-week high of $344.32.

In November, CooperVision, a unit of Cooper Companies had received FDA approval for its daily wear contact lense, MiSight indicated to slow down the progression of myopia. This is the first FDA approved myopia management contact lens and is expected to be available in the U.S. beginning in March of 2020.

In December, when the company reported fourth-quarter results, revenue had increased 6% year-over-year to $691.6 million. EPS on an adjusted basis also rose 15% to $3.30, that beat analysts' estimate of $3.27.

For the first quarter, the company expects revenue in the range of $638 - $653 million. The consensus estimate is at $647.93 million. Adjusted EPS is expected in a range of $2.65- $2.75. The Street expectation stands at $2.71.

Cooper had bought back about 512 thousand shares at $292.68 per share for $150.0 million, in October last year.

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