Yahoo Finance Cooper's MiSight Lens Effective in Checking Juvenile Myopia
The Cooper Companies COO recently announced four-year study results which show that its CooperVision (CVI) MiSight can significantly check juvenile myopia progression. Notably, the lens is commercially available in select countries. The latest development is likely to aid the company’s core CVI segment.
About MiSight
Cooper developed MiSight as part of its Myopia Management System. Apart from correcting myopia, MiSight lenses have been proven to slow its progression in children. Launched in March 2017, this suite of lenses marks significant progress in myopia management.
Per management, these lenses lower the incidence of eye diseases associated with short-sightedness, such as retinal detachment and glaucoma.
Inside CVI
CVI develops, manufactures and markets a broad range of single-use, two-week and monthly contact lenses, featuring advanced materials and optics.
In the last reported quarter, this core business accounted for a significant 74.1% of Cooper’s total revenues and grew 9% at constant currency (cc). The segment has consistently gained from Cooper’s MyDay and clariti daily silicone hydrogel lenses.
CVI also has a strong presence across all geographies, viz, United States, EMEA and Asia Pacific.
In fact, management expects the segment to grow 8-10% at cc in the fourth quarter of fiscal 2018.
Market Prospects
The prevalence of myopia is projected to increase from approximately two billion worldwide in 2010 to almost five billion in 2050.
Moreover, Zion Market Research opines that the global contact lenses market is expected to generate revenues of around $17.64 billion by 2024, at a CAGR of roughly 7.1%. The study also suggests that North America will dominate the global contact lenses market in the days ahead.
Price Performance
In the past six months, shares of Cooper have rallied 11.5% compared with the industry’s 6.5% and the S&P 500 index’s 6.4% rise.
The stock carries a Zacks Rank #4 (Sell).
Key Picks
A few better-ranked stocks in the broader medical space are athenahealth ATHN, Intuitive Surgical ISRG and Masimo Corporation MASI.
athenahealth has a long-term expected earnings growth rate of 17.6%. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical’s expected long-term earnings growth rate is 14.7%. The stock has a Zacks Rank #1.
Masimo’s long-term earnings growth rate is projected at 14.8%. The stock carries a Zacks Rank #2 (Buy).
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