market folly

Steve Mandel's hedge fund firm Lone Pine Capital just filed a 13G with the SEC on Cooper Companies (COO).  This is a brand new stake for the hedge fund as they've not reported a position in it before.

Per the filing, Lone Pine now discloses a 5.1% ownership stake in Cooper Companies with 2,435,937 shares.  This 13G filing was made due to portfolio activity on June 8th.

For more on this hedge fund we also today posted up why Steve Mandel likes Kohl's.

Per Google Finance, Cooper Companies is "a global medical products company that serves the specialty healthcare market through its two business units, CooperVision, Inc. (CVI) and CooperSurgical, Inc. (CSI). CVI develops, manufactures and markets a range of contact lenses for the global vision correction market. CVI specializes in lenses for astigmatism, presbyopia and ocular dryness. CVI is a manufacturer of toric lenses, which correct astigmatism, multifocal lenses for presbyopia (blurring near vision due to advancing age) and spherical lenses that correct the common visual defects."