Artisan Partners, an investment management company, released its “Artisan Global Discovery Fund” second quarter investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class: APFDX returned -20.46%, Advisor Class: APDDX posted a return of -20.42%, and Institutional Class: APHDX returned -20.40%, compared to the benchmark return of -15.66% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Partners discussed stocks like The Cooper Companies, Inc. (NYSE:COO) in the second quarter investor letter. Headquartered in San Ramon, California, The Cooper Companies, Inc. (NYSE:COO) develops, manufactures, and markets contact lenses. On September 23, 2022, The Cooper Companies, Inc. (NYSE:COO) stock closed at $275.68 per share. One-month return of The Cooper Companies, Inc. (NYSE:COO) was -7.04% and its shares lost 37.26% of their value over the last 52 weeks. The Cooper Companies, Inc. (NYSE:COO) has a market capitalization of $13.604 billion.
Here is what Artisan Partners specifically said about The Cooper Companies, Inc. (NYSE:COO) in its Q2 2022 investor letter:
“The Cooper Companies, Inc. (NYSE:COO) is the second largest contact lens manufacturer and a leading provider of women’s health and fertility products and services. We believe the company is well positioned to benefit from several profit cycle drivers. First, a broad shift from reusable contact lenses to soft, daily disposable lenses is underway. The convenience of less upkeep and increased comfort makes daily lenses an attractive option with higher recurring revenues to Cooper. We are also drawn to the company’s MiSight soft contact lens product, which is used to treat myopia (nearsightedness). Myopia is a global health issue—associated with increased screen time and indoor activity—affecting ~30% of the population and is expected to reach 50% over the coming decades (with particularly high prevalence among children). MiSight is the first and only FDA-approved myopia control contact lens, and we believe it could open a multi-billion-dollar market and be a meaningful growth driver in the years ahead. Meanwhile, the company has made several acquisitions to accelerate the growth of its smaller (~25% of revenue) women’s health business.”
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The Cooper Companies, Inc. (NYSE:COO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held The Cooper Companies, Inc. (NYSE:COO) at the end of the second quarter which was 33 in the previous quarter.
We discussed The Cooper Companies, Inc. (NYSE:COO) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
