Billionaire Cooperman Isn’t Gambling With These Stocks Anymore

Cooperman has disposed of his entire stake in two healthcare companies, HCA Holdings and Gilead Sciences, Inc. (NASDAQ:GILD). The investment manager sold 612,500 shares of the latter, whose shares have spiked 25.74% year-to-date. Gilead Sciences, Inc. (NASDAQ:GILD)’s shares reached an all-time high of $121.78 earlier this week. There is no specific reason behind this boost except for the improving HCV prescriptions in June. Gilead Sciences is involved in a bidding war with Teva Pharmaceutical Industries Ltd. (ADR) (NYSE:TEVA) and AstraZeneca Plc. (ADR) (NYSE:AZN) for the acquisition of Receptos Inc. (NASDAQ:RCPT). The shares of Receptos Inc. have skyrocketed in the last two weeks as a result, including an increase of 15.95% between June 10 and June 19, 2015. Columbus Circle Investors and AQR Capital Management have large stakes in Gilead Sciences, Inc. (NASDAQ:GILD).

In the list of stocks disposed of by Cooperman recently is Cabot Oil & Gas Corporation (NYSE:COG). The fund manager sold out of his 1.49 million shares of the oil and gas company, whose shares have improved by 11.22% year-to-date. According to a recent report from investment-banking boutique KLR Group, Cabot Oil & Gas Corporation (NYSE:COG) is a low-risk, high-yield stock in the energy sector, while also being a potential takeover target. This would appear to make it a very attractive stock, though of the 19 analysts that cover it, they maintain an average rating of ‘Hold’ on it, along with an average price target of $35.08, representing limited perceived upside, of about 6%. Magnetar Capital and D E Shaw hold major stakes in Cabot Oil & Gas Corporation (NYSE:COG), which has a dividend yield of 0.24%.

Perhaps the most surprising sell-off of all from Cooperman’s portfolio was that of Apple Inc. (NASDAQ:AAPL), as the fund manager sold 383,790 shares of the iPhone maker. The Watch maker is known to launch amazing products and it has a growing consumer base throughout the world. In a recent report, Apple Inc. (NASDAQ:AAPL) is working towards the next version of Apple Watch and the company is likely to introduce several new features in Apple Watch 2. Some of the prominent upgrades include a FaceTime Video Camera and the ability to work without being connected to an iPhone. The device will reportedly be available in the hefty price range of $1,000 to $10,000 for a gold Apple Watch edition, with an expected launch in 2016. Apple Inc. (NASDAQ:AAPL) has received big investments from the likes of Icahn Capital LP and Fisher Asset Management.

Disclosure: None