Cooper Companies (The)

CooperVision has demonstrated mid‑single digit price/mix gains supported by premium dailies, torics and multifocals and the differentiated MiSight lens, indicating above‑average pricing power. Non‑GAAP gross margin for FY25 was 68% and operating margin 26%, implying room for incremental pricing to offset inflation and tariffs.

CooperSurgical pricing is more mixed, with reimbursement dynamics in genomics and competition in office devices dampening leverage. Overall, we see realized pricing power today and latent upside as MiSight penetration grows, but balance this with regulatory and competitive noise in surgical.