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BSX vs. MDT: Which MedSurg Stock Is the Better Investment Now?
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Key Takeaways
BSX gains MedSurg share via growth in Endoscopy, Urology and Neuromodulation product lines.
MDT expands Surgical Robotics with Hugo RAS, now rolled out across 30 international markets.
Both BSX and MDT see growth in emerging markets.
Investors are increasingly eyeing the fast-growing MedSurg equipment space, which is projected to witness a compound annual growth rate (CAGR) of 9.54% from 2025 to 2030 (per Grand View Research). Two prominent companies with a strong foothold in this space are Boston Scientific (BSX - Free Report) and Medtronic (MDT - Free Report) .
Boston Scientific’s MedSurg segment offers minimally invasive GI treatment solutions, devices for urological conditions like benign prostatic hyperplasia (BPH) and kidney stones, and technologies for managing chronic pain and neurological disorders. Meanwhile, Medtronic’s MedSurg portfolio comprises surgical tools, AI-powered imaging, robotic-assisted systems, and minimally invasive GI therapies, as well as airway management solutions.
With the market set to grow from an increasing aging population, rising chronic diseases and rapid technological advancements, the question remains: Which of these two stocks offers a better investment opportunity right now? Let us dive into the details.
The Case for Boston Scientific
Natick, MA-based Boston Scientific is gaining market share in its MedSurg segment, driven by solid momentum across Endoscopy, Urology and Neuromodulation. In Endoscopy, growth is fueled by endoluminal surgery, single-use imaging and continued strength in the AXIOS platform. Urology benefits from strong contributions from the Core Stone and prosthetic urology franchises, supported by the launch of TENACIO pump for AMS 700 and the expanding LithoVue line. In Neuromodulation, new products like the Cartesia leads and Lumina 3D programming algorithm, helped boost deep brain stimulation (DBS) performance in the first quarter, and the Intracept procedure saw strong demand backed by long-term efficacy data.
Beyond MedSurg, Boston Scientific’s structural heart segment is also gaining traction, led by 24% growth in WATCHMAN sales. WATCHMAN is the first device to offer a non-pharmacologic alternative to oral anti-coagulants that has been studied in a randomized clinical trial and is the leading device in percutaneous LAAC globally.
Additionally, the company is expanding globally, with emerging markets (which are defined as all countries except the United States, Western and Central Europe, Japan, Australia, New Zealand and Canada) playing a vital growth engine. In the first quarter, emerging markets’ net sales grew nearly 9.8% year over year on an operational basis.
Boston Scientific delivered solid operational results in the first quarter, with adjusted gross margin rising 19 bps and operating margin improving 127 bps. In line with this, the company raised its full-year 2025 outlook, projecting 15-17% reported net sales growth and adjusted EPS of $2.87-$2.94. However, it anticipates a $200 million tariff impact later in the year.
The Case for Medtronic
Minnesota-based Medtronic’s MedSurg portfolio is gaining from positive sales momentum in Surgical Robotics, supported by the continued rollout of its differentiated Hugo robotic-assisted surgery (RAS) system across many international markets. In lieu of this, the company recently filed for FDA approval for urologic indications, marking a milestone in U.S. market entry. Additionally, the Hugo RAS system continued to expand its installed base, now reaching 30 countries, with year-over-year growth in both procedure volumes and utilization. The company continued to gain global market share with its LigaSure advanced energy products, achieving 11 consecutive quarters of share gains.
Medtronic is aggressively expanding in markets such as cardiac ablation and neuromodulation. Cardiac Ablation Solutions (“CAS”) stood out with nearly 30% growth in the fiscal fourth quarter, driven by strong global demand for its Affera and PulseSelect PFA systems. In neuromodulation, it secured the top global position in spinal cord stimulation with its Inceptiv closed-loop technology.
The company remains focused on expansion in emerging markets to address the significant unmet demand for advanced medical technologies. In the quarter, emerging markets grew mid-single digits, with notable strength in India, Southeast Asia, and Eastern Europe, aligning with the company’s strategic emphasis on global diversification.
Operationally, Medtronic’s performance in the first quarter was strong, with gross margin improvement of 19 basis points (bps) and operating margin growth of 210 bps. In line with this, for fiscal 2026, the company projects organic revenue growth of 5% over fiscal 2025.
BSX & MDT Stock Price Performance
In the past year, Boston Scientific’s shares have risen 35.2%. Meanwhile, Medtronic has seen a much slower uptick, with shares gaining 7.4%.
Image Source: Zacks Investment Research
Valuation of BSX and MDT
In terms of forward five-year price-to-sales (P/S), Boston Scientific stock is trading at 7.5X, higher than Medtronic’s P/S of 3.1X. When compared to the broader Medical sector average of 5.4X, Medtronic appears to be appealing, and it has a Value score of B at present. Boston Scientific, meanwhile, carries a Value Score of D.
Image Source: Zacks Investment Research
Estimate Movement for BSX and MDT
The Zacks Consensus Estimate for Boston Scientific’s 2025 EPS implies a year-over-year improvement of 15.9%. Estimates have been trending north in the last 90 days.
Image Source: Zacks Investment Research
Meanwhile, analysts are losing confidence on Medtronic, given the downward EPS estimate revisions in the last 60 days. The consensus mark implies 5.2% year-over-year growth.
Image Source: Zacks Investment Research
BSX or MDT: Which Stock to Pick?
Boston Scientific carrying a Zacks Rank #3 (Hold) at present is gaining broad-based strength across MedSurg and structural heart, fueled by innovation, global expansion, and strong Q1 execution. Despite expected tariff impacts, its raised 2025 guidance reflects confidence in sustained growth. BSX stock has fared comparatively better than MDT in the past year combined with rising earnings estimates, supports the case for retaining the stock.
Meanwhile, Medtronic sees strong momentum driven by global expansion, innovation in robotics and ablation platforms, and steady emerging market growth. Although it carries a Zacks Rank #4 (Sell) at present, its discounted P/S relative to both BSX and the industry point may continue to attract value-focused investors.
Image: Bigstock
BSX vs. MDT: Which MedSurg Stock Is the Better Investment Now?
Key Takeaways
Investors are increasingly eyeing the fast-growing MedSurg equipment space, which is projected to witness a compound annual growth rate (CAGR) of 9.54% from 2025 to 2030 (per Grand View Research). Two prominent companies with a strong foothold in this space are Boston Scientific (BSX - Free Report) and Medtronic (MDT - Free Report) .
Boston Scientific’s MedSurg segment offers minimally invasive GI treatment solutions, devices for urological conditions like benign prostatic hyperplasia (BPH) and kidney stones, and technologies for managing chronic pain and neurological disorders. Meanwhile, Medtronic’s MedSurg portfolio comprises surgical tools, AI-powered imaging, robotic-assisted systems, and minimally invasive GI therapies, as well as airway management solutions.
With the market set to grow from an increasing aging population, rising chronic diseases and rapid technological advancements, the question remains: Which of these two stocks offers a better investment opportunity right now? Let us dive into the details.
The Case for Boston Scientific
Natick, MA-based Boston Scientific is gaining market share in its MedSurg segment, driven by solid momentum across Endoscopy, Urology and Neuromodulation. In Endoscopy, growth is fueled by endoluminal surgery, single-use imaging and continued strength in the AXIOS platform. Urology benefits from strong contributions from the Core Stone and prosthetic urology franchises, supported by the launch of TENACIO pump for AMS 700 and the expanding LithoVue line. In Neuromodulation, new products like the Cartesia leads and Lumina 3D programming algorithm, helped boost deep brain stimulation (DBS) performance in the first quarter, and the Intracept procedure saw strong demand backed by long-term efficacy data.
Beyond MedSurg, Boston Scientific’s structural heart segment is also gaining traction, led by 24% growth in WATCHMAN sales. WATCHMAN is the first device to offer a non-pharmacologic alternative to oral anti-coagulants that has been studied in a randomized clinical trial and is the leading device in percutaneous LAAC globally.
Additionally, the company is expanding globally, with emerging markets (which are defined as all countries except the United States, Western and Central Europe, Japan, Australia, New Zealand and Canada) playing a vital growth engine. In the first quarter, emerging markets’ net sales grew nearly 9.8% year over year on an operational basis.
Boston Scientific delivered solid operational results in the first quarter, with adjusted gross margin rising 19 bps and operating margin improving 127 bps. In line with this, the company raised its full-year 2025 outlook, projecting 15-17% reported net sales growth and adjusted EPS of $2.87-$2.94. However, it anticipates a $200 million tariff impact later in the year.
The Case for Medtronic
Minnesota-based Medtronic’s MedSurg portfolio is gaining from positive sales momentum in Surgical Robotics, supported by the continued rollout of its differentiated Hugo robotic-assisted surgery (RAS) system across many international markets. In lieu of this, the company recently filed for FDA approval for urologic indications, marking a milestone in U.S. market entry. Additionally, the Hugo RAS system continued to expand its installed base, now reaching 30 countries, with year-over-year growth in both procedure volumes and utilization. The company continued to gain global market share with its LigaSure advanced energy products, achieving 11 consecutive quarters of share gains.
Medtronic is aggressively expanding in markets such as cardiac ablation and neuromodulation. Cardiac Ablation Solutions (“CAS”) stood out with nearly 30% growth in the fiscal fourth quarter, driven by strong global demand for its Affera and PulseSelect PFA systems. In neuromodulation, it secured the top global position in spinal cord stimulation with its Inceptiv closed-loop technology.
The company remains focused on expansion in emerging markets to address the significant unmet demand for advanced medical technologies. In the quarter, emerging markets grew mid-single digits, with notable strength in India, Southeast Asia, and Eastern Europe, aligning with the company’s strategic emphasis on global diversification.
Operationally, Medtronic’s performance in the first quarter was strong, with gross margin improvement of 19 basis points (bps) and operating margin growth of 210 bps. In line with this, for fiscal 2026, the company projects organic revenue growth of 5% over fiscal 2025.
BSX & MDT Stock Price Performance
In the past year, Boston Scientific’s shares have risen 35.2%. Meanwhile, Medtronic has seen a much slower uptick, with shares gaining 7.4%.
Image Source: Zacks Investment Research
Valuation of BSX and MDT
In terms of forward five-year price-to-sales (P/S), Boston Scientific stock is trading at 7.5X, higher than Medtronic’s P/S of 3.1X. When compared to the broader Medical sector average of 5.4X, Medtronic appears to be appealing, and it has a Value score of B at present. Boston Scientific, meanwhile, carries a Value Score of D.
Image Source: Zacks Investment Research
Estimate Movement for BSX and MDT
The Zacks Consensus Estimate for Boston Scientific’s 2025 EPS implies a year-over-year improvement of 15.9%. Estimates have been trending north in the last 90 days.
Image Source: Zacks Investment Research
Meanwhile, analysts are losing confidence on Medtronic, given the downward EPS estimate revisions in the last 60 days. The consensus mark implies 5.2% year-over-year growth.
Image Source: Zacks Investment Research
BSX or MDT: Which Stock to Pick?
Boston Scientific carrying a Zacks Rank #3 (Hold) at present is gaining broad-based strength across MedSurg and structural heart, fueled by innovation, global expansion, and strong Q1 execution. Despite expected tariff impacts, its raised 2025 guidance reflects confidence in sustained growth. BSX stock has fared comparatively better than MDT in the past year combined with rising earnings estimates, supports the case for retaining the stock.
Meanwhile, Medtronic sees strong momentum driven by global expansion, innovation in robotics and ablation platforms, and steady emerging market growth. Although it carries a Zacks Rank #4 (Sell) at present, its discounted P/S relative to both BSX and the industry point may continue to attract value-focused investors.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.