Baron Funds, an investment management company, released its “Baron Health Care Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fund advanced 7.69% (Institutional Shares) in the quarter compared to a 6.96% gain for the Russell 3000 Health Care Index and an 11.69% increase for the S&P 500 Index. For the full year, the fund increased 6.42%, compared to 2.87% and 26.29% returns for the indexes, respectively. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Health Care Fund featured stocks such as Boston Scientific Corporation (NYSE:BSX) in the fourth quarter 2023 investor letter. Headquartered in Marlborough, Massachusetts, Boston Scientific Corporation (NYSE:BSX) develops, manufactures, and markets medical devices. On January 19, 2024, Boston Scientific Corporation (NYSE:BSX) stock closed at $60.94 per share. One-month return of Boston Scientific Corporation (NYSE:BSX) was 9.02%, and its shares gained 32.91% of their value over the last 52 weeks. Boston Scientific Corporation (NYSE:BSX) has a market capitalization of $89.276 billion.
Baron Health Care Fund stated the following regarding Boston Scientific Corporation (NYSE:BSX) in its fourth quarter 2023 investor letter:
“We added to our position in Boston Scientific Corporation (NYSE:BSX), a global developer, manufacturer, and marketer of medical devices that are used in a broad range of interventional medical specialties. We believe Boston Scientific can grow revenue in the high single digits, driven by differentiated products used to treat atrial fibrillation, such as pulsed field ablation, among others. The company held an Investor Day in September at which management established financial targets for the 2024 to 2026 period calling for an organic sales CAGR of 8% to 10%, 150 basis points of margin expansion, and strong double-digit adjusted EPS growth and improved free-cash-flow conversion. We think this growth profile makes Boston Scientific a compelling name within the large medical device universe.”
A scientist in a laboratory researching a neurological disease.
Boston Scientific Corporation (NYSE:BSX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held Boston Scientific Corporation (NYSE:BSX) at the end of third quarter which was 69 in the previous quarter.
We discussed Boston Scientific Corporation (NYSE:BSX) in another article and shared the list of most famous hedge fund managers and their top stock picks. In addition, please check out our hedge fund investor letters Q4 2023 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.
