Renaissance Investment Management, an investment management company, released its Q1 2026 "Large Cap Growth Strategy." A copy of the letter can be downloaded here. Stocks fell sharply in the first quarter due to the Iran conflict. The Energy and Materials sectors outperformed, Financials and Consumer Discretionary lagged. Large-cap stocks underperformed smaller-cap stocks, and Value outperformed Growth. The portfolio outperformed the S&P 500's -4.3% return but lagged the Russell 1000 Growth Index, which fell 9.8%. In this uncertain environment, the firm remains aware of the risks and emerging investment opportunities. In addition, you can check the Strategy's top 5 holdings for its best picks for 2026.
In its first-quarter 2026 investor letter, Renaissance Investment Large Cap Growth Strategy highlighted Boston Scientific Corporation (NYSE:BSX). Boston Scientific Corporation (NYSE:BSX) is a medical technology company that manufactures and markets medical devices for use in various interventional medical specialties. On June 16, 2026, Boston Scientific Corporation (NYSE:BSX) closed at $46.92 per share. One-month return of Boston Scientific Corporation (NYSE:BSX) was -17.20%, and its shares lost 53.71% over the past 52 weeks. Boston Scientific Corporation (NYSE:BSX) has a market capitalization of $69.74 billion.
Renaissance Investment Large Cap Growth Strategy stated the following regarding Boston Scientific Corporation (NYSE:BSX) in its Q1 2026 investor letter:
"Boston Scientific Corporation (NYSE:BSX) dropped despite reporting solid operating results. The stock declined after initial 2026 guidance came in below expectations, driven by revenue growth deceleration in its electrophysiology segment. This segment has contributed substantially to revenue growth in the past, and the deceleration suggests that the company's main competitor, Medtronic, may be gaining market share."
Boston Scientific Corporation (NYSE:BSX) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 110 hedge fund portfolios held Boston Scientific Corporation (NYSE:BSX) at the end of the fourth quarter, up from 102 in the previous quarter. In the first quarter of 2026, Boston Scientific Corporation (NYSE:BSX) delivered consolidated revenue of $5.203 billion, representing 11.6% year-over-year growth compared to Q1 2025. While we acknowledge the potential of Boston Scientific Corporation (NYSE:BSX) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.