Do Hedge Funds Love Cooper Companies, Inc. (COO)?

As industrywide interest jumped, some big names have been driving this bullishness. Nebula Capital, managed by Aleem Mawji, created the biggest position in Cooper Companies, Inc. (NYSE:COO). Nebula Capital had $6.7 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also made a $5.8 million investment in the stock during the quarter. The other funds with new positions in the stock are Sahm Adrangi’s Kerrisdale Capital, D E Shaw, and David Steinberg and Eric Udoff’s Marlowe Partners.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Cooper Companies, Inc. (NYSE:COO) but similarly valued. These stocks are VimpelCom Ltd (ADR) (NASDAQ:VIP), Mednax Inc. (NYSE:MD), Arthur J. Gallagher & Co. (NYSE:AJG), and Synopsys, Inc. (NASDAQ:SNPS). This group of stocks’ market values is similar to Cooper Companies, Inc. (NYSE:COO)’s market value.

As you can see, these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $185 million. That figure was $533 million in Cooper Companies, Inc. (NYSE:COO)’s case. Mednax Inc. (NYSE:MD) is the most popular stock in this table. On the other hand VimpelCom Ltd (ADR) (NASDAQ:VIP) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks, Cooper Companies, Inc. (NYSE:COO) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.