Baron Funds Sees Bright Future in Cooper Companies (COO)

Baron Funds, an asset management firm, published its “Baron Health Care Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. In the quarter ended June 30, 2022, Baron Health Care Fund (the “Fund”) declined 10.00% (Institutional Shares), compared with the 7.43% decline for the Russell 3000 Health Care Index (the “Benchmark”) and the 16.10% decline for the S&P 500 Index. Since its inception (April 30, 2018), the Fund increased 15.00% on an annualized basis compared with the 11.96% gain for the Benchmark and the 10.91% gain for the S&P 500 Index. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Baron Health Care Fund mentioned The Cooper Companies, Inc. (NYSE:COO) and explained its insights for the company. Founded in 1958, The Cooper Companies, Inc. (NYSE:COO) is a Pleasanton, California-based public holding company with a $16.6 billion market capitalization. The Cooper Companies, Inc. (NYSE:COO) delivered a -19.49% return since the beginning of the year, while its 12-month returns are down by -23.10%. The stock closed at $337.27 per share on August 16, 2022.

Here is what Baron Health Care Fund has to say about The Cooper Companies, Inc. (NYSE:COO) in its Q2 2022 investor letter:

“Shares in The Cooper Companies, Inc., a leading global manufacturer and distributor of vision care and womens’ health care products, fell on anticipation of lower guidance driven largely by FX/interest rates and the delay in closing its acquisition of Cook Medical. We remain positive given the company’s ongoing share gains in the contact lens business, its growing product portfolio in the ob/gyn and fertility markets for women, and its exciting new myopia management portfolio, which includes the first FDA-approved contact lens to treat myopia in children.”

national-cancer-institute-GcrSgHDrniY-unsplash

Our calculations show that The Cooper Companies, Inc. (NYSE:COO) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. The Cooper Companies, Inc. (NYSE:COO) was in 33 hedge fund portfolios at the end of the second quarter of 2022, compared to 32 funds in the previous quarter. The Cooper Companies, Inc. (NYSE:COO) delivered a -0.88% return in the past 3 months.

In June 2022, we also shared another hedge fund’s views on The Cooper Companies, Inc. (NYSE:COO) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.