We recently published a list of Israel Englander’s Stock Portfolio: Top 10 Stocks to Invest in. In this article, we are going to take a look at where Boston Scientific Corporation (NYSE:BSX) stands against other stocks to invest in from Israel Englander’s portfolio.
Millennium Management is a globally recognized investment firm specializing in multi-strategy hedge fund offerings. Founded in 1989, the firm has established itself as one of the largest alternative asset management firms. With headquarters in New York, Millennium Management has expanded its operations across North America, Europe, and Asia, with 18 primary offices in financial hubs such as London, Dubai, Singapore, and Tokyo. The firm employs a platform-based investment approach, consisting of approximately 330 investment teams operating under a decentralized model. These teams deploy diverse strategies across various asset classes, including equities, fixed income, commodities, and derivatives. Millennium’s core strategies encompass fundamental equity research, equity arbitrage, macroeconomic-driven fixed-income investments, and commodity-based trades. By leveraging a data-driven and diversified approach, the firm seeks to generate consistent, high-quality returns for its investors while effectively managing risk across global markets.
Millennium was co-founded by Israel A. Englander and Ronald Shear, both of whom had extensive experience in the American Stock Exchange (AMEX). The firm initially launched with $35 million in capital, with Englander contributing $5 million and securing additional investment from Canadian financiers, the Belzberg brothers. However, the firm faced early struggles, leading to Shear’s departure just six months after its inception. Despite these challenges, Millennium Management evolved into a powerhouse in the hedge fund industry, consistently ranking among the top-performing firms. Over the years, Millennium has adopted an institutionalized structure, attracting seasoned executives such as Bobby Jain, who served as co-CIO alongside Englander until his departure in 2023. By implementing a disciplined risk management framework and continuously refining its investment strategies, Millennium has remained at the forefront of alternative asset management.
Israel Englander, the driving force behind Millennium, has built a reputation as one of the most successful hedge fund managers in modern finance. A graduate of New York University, Englander pursued an MBA before leaving early to trade at AMEX, where he gained valuable experience in market-making and derivatives trading. His expertise and strategic vision enabled Millennium to grow rapidly, managing approximately $13 billion in assets by 2011. In recent years, Englander has explored opportunities to sell a minority stake in the firm, signaling a shift towards institutional ownership. His approach to hedge fund management prioritizes capital allocation to specialized teams rather than making direct investment decisions himself. This model has allowed Millennium to maintain a highly competitive edge, attracting top talent and fostering a dynamic investment environment.
Millennium’s outstanding performance has positioned it as one of the most successful hedge funds globally. As of Q4 2024, the firm reported $204.64 billion in managed 13F securities, with its top ten holdings comprising 15.5% of its portfolio. Notably, Millennium has consistently ranked among the highest-grossing hedge funds, posting the fourth-largest net gains of any fund since its inception. Its commitment to risk-adjusted returns, diversification, and strategic innovation has earned it a strong reputation among institutional investors. With a proven track record, an expansive global presence, and a disciplined investment approach, Millennium Management continues to be a dominant force in the hedge fund industry.
Our Methodology
The stocks discussed below were picked from Millennium Management’s Q4 2024 13F filings. They are compiled in the ascending order of the hedge fund’s stake in them as of December 31, 2024. To assist readers with more context, we have included the hedge fund sentiment regarding each stock using data from 1,008 hedge funds tracked by Insider Monkey in the fourth quarter of 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
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Boston Scientific Corporation (NYSE:BSX)
Number of Hedge Fund Holders as of Q4: 96
Millennium Management’s Equity Stake: $770.72 Million
Founded in 1979 and based in Marlborough, Massachusetts, Boston Scientific Corporation (NYSE:BSX) is a global biomedical engineering company specializing in medical devices for interventional procedures across various fields, including cardiology, neuromodulation, and oncology. It is particularly known for developing the Taxus Stent, a drug-eluting stent designed to treat clogged arteries. In Q4 2024, the company demonstrated strong financial growth, with revenue rising 22% year-over-year to $4.56 billion and net income surging 12% to $566 million. Operating profit improved by 28% to $790 million, reflecting increased efficiency and profitability. The company reported earnings per share (EPS) of $0.70, surpassing analyst expectations of $0.66 by 6.7%.
In the fourth quarter of 2024, Millennium Management held over 9 million shares in Boston Scientific Corporation (NYSE:BSX), which is valued at over $770 million and represents 0.37% of the fund’s portfolio. Institutional interest in the stock also surged, with 96 out of 1,008 hedge funds tracked by Insider Monkey holding positions worth nearly $7.22 billion by the end of Q4, up from 92 funds in the prior quarter. The growing hedge fund investment underscores strong confidence in Boston’s growth potential, strengthening its position as a top stock choice.
Boston Scientific Corporation (NYSE:BSX) has demonstrated strong growth momentum despite macroeconomic challenges, surpassing market expectations with its robust fourth-quarter 2024 results and issuing an optimistic outlook for 2025. As of February 20, 2025, its stock price has risen 17.8% year-to-date, outperforming the broader medical sector and key competitors like Abbott, Medtronic, and Becton Dickinson. The company continues to expand in emerging markets, particularly in EMEA and APAC, with notable success in China, Japan, Australia, and New Zealand. For 2025, Boston Scientific Corporation (NYSE:BSX) projects organic revenue growth of 10% to 12%, with first-quarter adjusted EPS expected between $0.66 and $0.68. Analysts predict a 10.83% upside in stock value, with an average price target of $117.63, reinforcing confidence in its long-term potential. Despite economic headwinds, the company’s strong execution, strategic investments, and operational efficiencies position it for continued success in the medical device industry.
Baron Health Care Fund stated the following regarding Boston Scientific Corporation (NYSE:BSX) in its Q4 2024 investor letter:
“Boston Scientific Corporation (NYSE:BSX) is a global manufacturer of devices used in a broad range of interventional medical specialties. Shares climbed steadily throughout the quarter on solid company fundamentals, including a double-digit EPS growth profile and cost discipline that produces more than 50 basis points of annual operating margin expansion. We believe Boston Scientific can see sustainable organic growth in the high single digits, driven by differentiated products in electrophysiology and structural heart, in particular, the emerging field of pulsed field ablation (PFA), where the company is well positioned. Temperature-based methods (either hot or cold) to disable heart tissue responsible for irregular heartbeats can damage surrounding tissue. PFA relies on electricity to damage aberrant tissue, and because different types of tissue have different electrical thresholds, the surrounding tissue can be selectively spared. In our opinion, Boston Scientific is a compelling name within the large-cap medical device universe.”
Overall, BSX ranks 8th on our list of stocks to invest in from Israel Englander’s portfolio. While we acknowledge the potential for BSX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BSX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.