Baron Funds, an investment management company, released its “Baron Health Care Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fund advanced 7.69% (Institutional Shares) in the quarter compared to a 6.96% gain for the Russell 3000 Health Care Index and an 11.69% increase for the S&P 500 Index. For the full year, the fund increased 6.42%, compared to 2.87% and 26.29% returns for the indexes, respectively. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Health Care Fund featured stocks such as The Cooper Companies, Inc. (NASDAQ:COO) in the fourth quarter 2023 investor letter. Headquartered in San Ramon, California, The Cooper Companies, Inc. (NASDAQ:COO) is a contact lens wearers manufacturer and distributor. On January 19, 2024, The Cooper Companies, Inc. (NASDAQ:COO) stock closed at $387.50 per share. One-month return of The Cooper Companies, Inc. (NASDAQ:COO) was 3.78%, and its shares gained 11.95% of their value over the last 52 weeks. The Cooper Companies, Inc. (NASDAQ:COO) has a market capitalization of $19.191 billion.
Baron Health Care Fund stated the following regarding The Cooper Companies, Inc. (NASDAQ:COO) in its fourth quarter 2023 investor letter:
“Strength in health care supplies was driven by The Cooper Companies, Inc. (NASDAQ:COO), a leading global contact lens manufacturer and distributor of women’s health products and services. The company reported its October fiscal year end results in December, which were generally in line with expectations. Investors reacted positively to achievable and likely conservative guidance for fiscal year 2024, calling for 6% to 8% organic top-line growth, supported by healthy market growth, continued share gains, greater operating leverage, and the potential for interest cost savings. Management also committed to allowing any FX benefit to drop through to the bottom line, adding potential earnings upside after several years of strong U.S. dollar driven headwinds. We remain positive on the outlook for Cooper Companies.”
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The Cooper Companies, Inc. (NASDAQ:COO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held The Cooper Companies, Inc. (NASDAQ:COO) at the end of third quarter which was 38 in the previous quarter.
We discussed The Cooper Companies, Inc. (NASDAQ:COO) in another article and shared the list of best medical specialties for female doctors and moms. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.