Billionaire investor Steve Cohen's Point72 Asset Management trimmed its stakes in Amazon and Nvidia during the first quarter while boosting its position in Boston Scientific by 50%. The hedge fund reduced its Amazon holding by 6% and its Nvidia holding by 24%, as both AI-driven stocks have lagged the broader market so far in 2026. Cohen instead piled into Boston Scientific, a medical device maker whose shares have fallen over 50% year to date, despite the company reporting strong first-quarter organic sales growth of 9.4%. The firm lowered its full-year adjusted earnings guidance to a range of $3.34 to $3.41 per share, down from the prior $3.43 to $3.49, citing a weaker outlook. Boston Scientific now trades at a price-to-sales ratio of 3.2 times and a price-to-earnings ratio of 19 times, well below its five-year averages, presenting what some see as a deep value opportunity.
Amazon.com Inc
NVIDIA CorporationBoston Scientific CorpPoint72 boosted its Boston Scientific position by 50% despite lowered guidance and a 50% YTD drop, citing deep value opportunity.
Bloom Energy Corp