UPDATE 2-Coloplast Q4 EBIT tops consensus, to buy back shares

* Q4 EBIT 406 mln DKK vs fcast 379 mln DKK

* CEO says earnings up on back of cost cuts

* Plans to buy up to 1 bln DKK ($200 mln) worth of shares

* Sees f/y sales growth 4-5 pct, EBIT margin 16-17 pct

* Shares rise 3 pct

(Adds CEO, analysts, share, detail, background)

By Anna Ringstrom and Teis Jensen

COPENHAGEN, Nov 6 (Reuters) - Danish healthcare products maker Coloplast (COLOb.CO: Quote, Profile, Research) said cost cuts helped it beat forecasts for quarterly operating profit, and stabilising financial markets meant it would now restart a suspended share buyback programme.

Coloplast, which makes products ranging from urine bags to wound dressings and other patient care supplies, proposed a dividend of 7 crowns for its fiscal year ended Sept. 30.