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Here’s Why Boston Scientific Corporation (BSX) Rose in Q1

Baron Funds, an investment management company, released its “Baron Health Care Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. The fund advanced 8.92% (Institutional Shares) in the quarter compared to an 8.52% gain for the Russell 3000 Health Care Index (benchmark) and a 10.56% increase for the S&P 500 Index. The fund rose 13.61% on an annualized basis since its inception on April 30, 2018, compared to an 11.45% gain for the benchmark and a 14.24% gain for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Baron Health Care Fund featured stocks like Boston Scientific Corporation (NYSE:BSX) in the first quarter 2024 investor letter. Headquartered in Marlborough, Massachusetts, Boston Scientific Corporation (NYSE:BSX) develops, manufactures, and markets medical devices. On April 23, 2024, Boston Scientific Corporation (NYSE:BSX) stock closed at $68.99 per share. One-month return of Boston Scientific Corporation (NYSE:BSX) was 6.77%, and its shares gained 43.38% of their value over the last 52 weeks. Boston Scientific Corporation (NYSE:BSX) has a market capitalization of $107.703 billion.

Baron Health Care Fund stated the following regarding Boston Scientific Corporation (NYSE:BSX) in its first quarter 2024 investor letter:

“Strength in the sub-industry also came from robotic surgical system leader Intuitive Surgical, Inc. and global medical device manufacturer Boston Scientific Corporation (NYSE:BSX). We remain positive about Boston Scientific because of the company’s differentiated products in electrophysiology and structural heart, double-digit EPS growth profile, proven track record of cost discipline, and consistent annual operating margin expansion.”

A surgeon examining a patient’s brain in an operating room, paramedics nearby.

Boston Scientific Corporation (NYSE:BSX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Boston Scientific Corporation (NYSE:BSX) was held by 71 hedge fund portfolios, compared to 65 in the previous quarter, according to our database.

We discussed Boston Scientific Corporation (NYSE:BSX) in another article where we shared the list of best 52-week high stocks to buy. In addition, please check out our hedge fund investor letters Q1 2024 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.

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