5 Pharmaceutical Stocks to Buy Based on Billionaire Ken Griffin’s Portfolio

4. Boston Scientific Corporation (NYSE:BSX)

Citadel Investment Group’s Stake Value: $205,400,000

Percentage of Citadel Investment Group’s 13F Portfolio: 0.04%

Number of Hedge Fund Holders: 47

Boston Scientific Corporation (NYSE:BSX) manufactures medical devices that enable treatments including interventional radiology, interventional cardiology, neurovascular intervention, cardiac surgery, vascular surgery, and endoscopy, among others. Ken Griffin holds a $205.4 million stake in Boston Scientific Corporation (NYSE:BSX), reducing his position in the company by 14% in the third quarter. 

On October 27, Piper Sandler analyst Matt O’Brien reiterated an Overweight rating and a price target of $51 on the Boston Scientific Corporation (NYSE:BSX) shares.

Thomas Steyer’s Farallon Capital is the largest stakeholder of Boston Scientific Corporation (NYSE:BSX), with 14 million shares valued at $607.5 million. Overall, 47 hedge funds in the Q3 database of Insider Monkey were long Boston Scientific Corporation (NYSE:BSX), down from 51 funds in the prior quarter. 

Here is what Artisan Partners has to say about Boston Scientific Corporation (NYSE:BSX) in its Q2 2021 investor letter:

“Among our top contributors (includes) Boston Scientific. Shares of Boston Scientific were volatile throughout most of 2020 as the pandemic drove significant drops in elective medical procedures, though our longer-term constructive view and belief elective medical procedures would bounce back post pandemic prompted us to add to our position. We have been rewarded with shares rebounding this year alongside a recovery in elective medical procedures. Longer-term, we believe the company’s investments in higher growth categories will drive revenue growth to the higher end of its peer group with rising margins.”