We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cooper Companies (COO) Unit's Ortho-K Lens Receives CE Mark
Read MoreHide Full Article
The Cooper Companies, Inc.’s (COO - Free Report) business unit, CooperVision, recently received European approval for its Specialty EyeCare’s Procornea DreamLite night lenses for slowing the development of myopia in children and young adults. Notably, the popular orthokeratology contact lens has become the latest CooperVision myopia control product to receive the CE Mark. With this approval, the product joins the ranks of MiSight 1 day soft contact lenses, EyeDream and Paragon CRT ortho-k designs and SightGlass Vision Diffusion Optics Technology spectacle lenses.
It is noteworthy to mention that CooperVision has successfully managed to build the world’s largest portfolio of evidence-based myopia control interventions. This in turn aids eye care professionals to address the global myopia epidemic with several approved options, thereby enabling them to customize the approach to each child and family.
With this approval, the CooperVision segment is likely to get a boost, thereby strengthening its position in the specialty lenses market.
More on the News
By 2050, Myopia is anticipated to affect the vision of about five billion people worldwide, more than double of today's numbers. High myopia increases the risk of vision-threatening eye conditions like retinal detachment and glaucoma.
Image Source: Zacks Investment Research
Per management, the company’s continued focus on innovation like DreamLite night lenses enables CooperVision to continue to lead in the myopia management category. The innovations offer wider access to optical interventions with scientifically-demonstrated outcomes drive investment in broader education for eye care professionals and parents.
Presently, these lenses are available throughout Europe, the Middle East and China.
Market Prospects
Per a report by Research and Markets, the global myopia and presbyopia treatment market is anticipated to reach a worth of $23.55 billion by 2025, at a CAGR of 7.9%. Hence, the approval is well-timed.
Recent Developments
In March, CooperVision deployed Vuzix M400 Smart Glasses with LogistiVIEW’s Vision+ augmented reality (AR) warehouse software that will aid in hands-free picking guidance at the company’s upstate New York distribution center.
CooperVision displayed solid performance in the first quarter of fiscal 2021, with the segment’s revenues of $507 million rising 1% at constant currency (cc) and 4% on a reported basis.
In first-quarter fiscal 2021, MiSight witnessed 82% growth resulting in revenues worth $3 million. The company currently boasts above 30,000 kids globally wearing the lens, which includes more than 2,000 in the United States, while continuing to gather momentum.
Price Performance
Shares of this Zacks Rank #2 (Buy) company have gained 8.2% on a year-to-date basis compared with the industry’s growth of 7.7%.
HCA Healthcare’s long-term earnings growth rate is expected at 12.3%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Amedisys’ long-term earnings growth rate is projected at 12%.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Image: Bigstock
Cooper Companies (COO) Unit's Ortho-K Lens Receives CE Mark
The Cooper Companies, Inc.’s (COO - Free Report) business unit, CooperVision, recently received European approval for its Specialty EyeCare’s Procornea DreamLite night lenses for slowing the development of myopia in children and young adults. Notably, the popular orthokeratology contact lens has become the latest CooperVision myopia control product to receive the CE Mark. With this approval, the product joins the ranks of MiSight 1 day soft contact lenses, EyeDream and Paragon CRT ortho-k designs and SightGlass Vision Diffusion Optics Technology spectacle lenses.
It is noteworthy to mention that CooperVision has successfully managed to build the world’s largest portfolio of evidence-based myopia control interventions. This in turn aids eye care professionals to address the global myopia epidemic with several approved options, thereby enabling them to customize the approach to each child and family.
With this approval, the CooperVision segment is likely to get a boost, thereby strengthening its position in the specialty lenses market.
More on the News
By 2050, Myopia is anticipated to affect the vision of about five billion people worldwide, more than double of today's numbers. High myopia increases the risk of vision-threatening eye conditions like retinal detachment and glaucoma.
Per management, the company’s continued focus on innovation like DreamLite night lenses enables CooperVision to continue to lead in the myopia management category. The innovations offer wider access to optical interventions with scientifically-demonstrated outcomes drive investment in broader education for eye care professionals and parents.
Presently, these lenses are available throughout Europe, the Middle East and China.
Market Prospects
Per a report by Research and Markets, the global myopia and presbyopia treatment market is anticipated to reach a worth of $23.55 billion by 2025, at a CAGR of 7.9%. Hence, the approval is well-timed.
Recent Developments
In March, CooperVision deployed Vuzix M400 Smart Glasses with LogistiVIEW’s Vision+ augmented reality (AR) warehouse software that will aid in hands-free picking guidance at the company’s upstate New York distribution center.
CooperVision displayed solid performance in the first quarter of fiscal 2021, with the segment’s revenues of $507 million rising 1% at constant currency (cc) and 4% on a reported basis.
In first-quarter fiscal 2021, MiSight witnessed 82% growth resulting in revenues worth $3 million. The company currently boasts above 30,000 kids globally wearing the lens, which includes more than 2,000 in the United States, while continuing to gather momentum.
Price Performance
Shares of this Zacks Rank #2 (Buy) company have gained 8.2% on a year-to-date basis compared with the industry’s growth of 7.7%.
Other Stocks to Consider
A few other same-ranked stocks from the broader medical space are HCA Healthcare, Inc. (HCA - Free Report) , DaVita Inc. (DVA - Free Report) and Amedisys, Inc. (AMED - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
HCA Healthcare’s long-term earnings growth rate is expected at 12.3%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Amedisys’ long-term earnings growth rate is projected at 12%.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>