Boston Scientific vs Medtronic (BSX vs MDT)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Medtronic is the larger company by revenue ($36.4B vs $20.1B) and market value ($111.4B vs $61.1B). Boston Scientific has grown revenue faster over the last 4 fiscal years (+68.9% cumulative vs +14.8%). Boston Scientific trades at the lower trailing P/E (17.2x vs 21.6x).
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices used in various interventional medical specialties. Its products include minimally invasive devices for diagnosing and treating cardiovascular, respiratory, digestive, oncological, neurological, and urological conditions. The company serves physicians and medical professionals worldwide by providing technologies such as endoscopy tools, urology devices, neuromodulation systems, cardiovascular therapies, and electrophysiology equipment.
About Medtronic
Medtronic plc is a global healthcare technology company that develops, manufactures, and sells medical devices and therapies. Its main products include implantable cardiac devices, heart valve repair and replacement systems, and vascular treatment devices. The company serves healthcare systems, physicians, clinicians, and patients worldwide.
Head to head (BSX FY2025 vs MDT FY2026)
| Metric | BSXFY2025 | MDTFY2026 |
|---|---|---|
| Revenue | $20.07B | $36.36B |
| Revenue growth (YoY) | 19.9% | 8.4% |
| Gross margin | 69.0% | 65.0% |
| Operating margin | 18.0% | 17.8% |
| Net margin | 14.4% | 13.2% |
| Net income | $2.89B | $4.80B |
| Diluted EPS | $1.94 | $3.73 |
| FCF margin | 18.2% | 14.9% |
| ROE | 11.8% | 9.6% |
| Long-term debt / equity | 0.46× | 0.52× |
| Market cap | $61.14B | $111.40B |
| P/E | 17.2× | 21.6× |
Fundamentals are from each company’s SEC filings (BSX FY2025, MDT FY2026). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
Five-year trend (as reported)
| BSX by fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $11.89B | $12.68B | $14.24B | $16.75B | $20.07B |
| Net income | $1.04B | $698.0M | $1.59B | $1.85B | $2.89B |
| Operating margin | 10.1% | 13.0% | 16.5% | 15.5% | 18.0% |
| MDT by fiscal year | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Revenue | $31.69B | $31.23B | $32.36B | $33.54B | $36.36B |
| Net income | $5.04B | $3.76B | $3.68B | $4.66B | $4.80B |
| Operating margin | 18.2% | 17.6% | 15.9% | 17.8% | 17.8% |
Boston Scientific and Medtronic use different fiscal calendars (BSX's FY2025 ended 2025-12-31, MDT's FY2026 ended 2026-04-24), so their fiscal years are shown separately rather than forced into one timeline.
Peer standing
These companies are ranked against different peer groups (Boston Scientific vs 88 medical device companies; Medtronic vs 558 Healthcare companies), so each is shown against its own peers rather than on one scale.
Boston Scientific
Boston Scientific’s FCF margin of 18.2% ranks in the 88th percentile of the 75 medical device companies reporting it. Boston Scientific’s operating margin of 18.0% ranks in the 87th percentile of the 80 medical device companies reporting it. Boston Scientific’s net margin of 14.4% ranks in the 85th percentile of the 81 medical device companies reporting it.
Medtronic
No standout rankings: Medtronic sits mid-distribution on most reported metrics.
Short interest
| FINRA settlement data | BSX | MDT |
|---|---|---|
| Shares sold short | 46.5M | 17.2M |
| Change vs prior settlement | -3.5% | +42.0% |
| Days to cover | 2.35 | 1.97 |
| As of settlement | 2026-09-15 | 2026-09-15 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 activity (codes P/S) | BSX | MDT |
|---|---|---|
| Buys | 6 ($9.5M) | 0 |
| Sells | 0 | 1 ($138,883) |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.