7 Best Dialysis and Kidney Disease Stocks to Buy

3. Boston Scientific Corporation (NYSE:BSX)

Number of Hedge Fund Holders: 82 

Boston Scientific Corporation (NYSE:BSX) is a global manufacturer of medical devices. It offers products like heart monitors, brain stimulation systems, catheters, stents, and more.

Boston Scientific offers a comprehensive range of products for managing dialysis access in patients with end-stage renal disease. Key solutions include high-pressure balloons, such as the Athletis balloon which is designed for treating fibrotic or calcified lesions in arteriovenous (AV) access with minimal impact on the site. Additionally, the AngioJet system combines mechanical thrombectomy with Power Pulse™ technology for rapid thrombus removal, promoting faster blood flow restoration, reducing the need for lytic therapy, and enhancing the long-term patency of dialysis access sites.

Boston Scientific Corporation (NYSE:BSX) demonstrates a strong market position with its pulsed field ablation (FPA) technology which allows precise targeting of healthy tissue while preserving organ structure. The launch of the Farapulse FPA product in January contributed to a 17% revenue growth in Q2 2024 for the US market. With global regulatory approval expected, shares have risen 44% year-to-date, reflecting market optimism. Boston Scientific trades at a forward P/E of 30.49, nearly double that of its nearest peer, Medtronic, at 16.50.

As of Q2 2024, 82 hedge funds tracked by Insider Monkey held stakes in the stock with Citadel Investment Group being the largest stakeholder with shares worth $962,614,757. Analysts are bullish on BSX giving it a Strong Buy rating. 19 Wall Street analysts have set a 12-month price target for Boston Scientific, with an average target of $88.06. Forecasts range from a high of $100.00 to a low of $78.00, indicating a 4.83% change from the current price of $84.00.