Medical - Devices
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4 / 10Stock Comparison
BSX vs BDX vs MDT vs BAX
Revenue, margins, valuation, and 5-year total return — side by side.
Medical - Instruments & Supplies
Medical - Devices
Medical - Instruments & Supplies
BSX vs BDX vs MDT vs BAX — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||||
|---|---|---|---|---|
| Industry | Medical - Devices | Medical - Instruments & Supplies | Medical - Devices | Medical - Instruments & Supplies |
| Market Cap | $84.08B | $55.53B | $99.94B | $9.04B |
| Revenue (TTM) | $20.07B | $21.36B | $35.48B | $11.32B |
| Net Income (TTM) | $2.89B | $1.14B | $4.61B | $-1.10B |
| Gross Margin | 69.0% | 46.5% | 61.9% | 30.1% |
| Operating Margin | 19.8% | 10.6% | 17.9% | -2.7% |
| Forward P/E | 16.7x | 12.3x | 14.1x | 9.2x |
| Total Debt | $12.42B | $19.18B | $28.52B | $10.00B |
| Cash & Equiv. | $2.04B | $851M | $2.22B | $1.97B |
BSX vs BDX vs MDT vs BAX — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Boston Scientific C… (BSX) | 100 | 148.9 | +48.9% |
| Becton, Dickinson a… (BDX) | 100 | 103.0 | +3.0% |
| Medtronic plc (MDT) | 100 | 79.1 | -20.9% |
| Baxter Internationa… (BAX) | 100 | 19.5 | -80.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: BSX vs BDX vs MDT vs BAX
Each card shows where this stock fits in a portfolio — not just who wins on paper.
BSX carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 19.9%, EPS growth 55.2%, 3Y rev CAGR 16.5%
- 155.5% 10Y total return vs BDX's 80.2%
- Lower volatility, beta 0.34, Low D/E 50.7%, current ratio 1.62x
- 19.9% revenue growth vs MDT's 3.6%
BDX is the #2 pick in this set and the best alternative if valuation efficiency is your priority.
- PEG 0.74 vs MDT's 36.00
- Lower P/E (12.3x vs 16.7x)
- +51.8% vs BSX's -46.0%
MDT is the clearest fit if your priority is income & stability and defensive.
- Dividend streak 36 yrs, beta 0.47, yield 3.6%
- Beta 0.47, yield 3.6%, current ratio 1.85x
- 3.6% yield, 36-year raise streak, vs BAX's 3.9%, (1 stock pays no dividend)
- 175.8% ROA vs BAX's -5.4%, ROIC 6.0% vs -1.4%
BAX lags the leaders in this set but could rank higher in a more targeted comparison.
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 19.9% revenue growth vs MDT's 3.6% | |
| Value | Lower P/E (12.3x vs 16.7x) | |
| Quality / Margins | 14.4% margin vs BAX's -9.7% | |
| Stability / Safety | Beta 0.34 vs BAX's 1.37, lower leverage | |
| Dividends | 3.6% yield, 36-year raise streak, vs BAX's 3.9%, (1 stock pays no dividend) | |
| Momentum (1Y) | +51.8% vs BSX's -46.0% | |
| Efficiency (ROA) | 175.8% ROA vs BAX's -5.4%, ROIC 6.0% vs -1.4% |
BSX vs BDX vs MDT vs BAX — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
BSX vs BDX vs MDT vs BAX — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
BSX leads in 3 of 6 categories
BAX leads 1 • BDX leads 0 • MDT leads 0 • 2 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
BSX leads this category, winning 6 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
MDT is the larger business by revenue, generating $35.5B annually — 3.1x BAX's $11.3B. BSX is the more profitable business, keeping 14.4% of every revenue dollar as net income compared to BAX's -9.7%. On growth, BSX holds the edge at +15.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||||
|---|---|---|---|---|
| RevenueTrailing 12 months | $20.1B | $21.4B | $35.5B | $11.3B |
| EBITDAEarnings before interest/tax | $4.7B | $4.2B | $9.4B | $671M |
| Net IncomeAfter-tax profit | $2.9B | $1.1B | $4.6B | -$1.1B |
| Free Cash FlowCash after capex | $3.6B | $3.1B | $5.4B | $501M |
| Gross MarginGross profit ÷ Revenue | +69.0% | +46.5% | +61.9% | +30.1% |
| Operating MarginEBIT ÷ Revenue | +19.8% | +10.6% | +17.9% | -2.7% |
| Net MarginNet income ÷ Revenue | +14.4% | +5.3% | +13.0% | -9.7% |
| FCF MarginFCF ÷ Revenue | +18.1% | +14.7% | +15.2% | +4.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +15.9% | -10.6% | +8.8% | +2.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +18.5% | -2.0% | -11.9% | -112.0% |
Valuation Metrics
BAX leads this category, winning 4 of 7 comparable metrics.
Valuation Metrics
At 21.6x trailing earnings, MDT trades at a 26% valuation discount to BSX's 29.2x P/E. Adjusting for growth (PEG ratio), BDX offers better value at 1.59x vs MDT's 36.00x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ||||
|---|---|---|---|---|
| Market CapShares × price | $84.1B | $55.5B | $99.9B | $9.0B |
| Enterprise ValueMkt cap + debt − cash | $94.5B | $73.9B | $126.2B | $17.1B |
| Trailing P/EPrice ÷ TTM EPS | 29.16x | 26.29x | 21.60x | -10.01x |
| Forward P/EPrice ÷ next-FY EPS est. | 16.75x | 12.27x | 14.13x | 9.17x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.59x | 36.00x | — |
| EV / EBITDAEnterprise value multiple | 25.30x | 14.65x | 14.32x | 25.37x |
| Price / SalesMarket cap ÷ Revenue | 4.19x | 2.54x | 2.98x | 0.80x |
| Price / BookPrice ÷ Book value/share | 3.46x | 1.73x | 2.08x | 1.47x |
| Price / FCFMarket cap ÷ FCF | 22.99x | 20.80x | 19.28x | 27.99x |
Profitability & Efficiency
BSX leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
BSX delivers a 12.4% return on equity — every $100 of shareholder capital generates $12 in annual profit, vs $-16 for BAX. BSX carries lower financial leverage with a 0.51x debt-to-equity ratio, signaling a more conservative balance sheet compared to BAX's 1.64x. On the Piotroski fundamental quality scale (0–9), BSX scores 7/9 vs BAX's 5/9, reflecting strong financial health.
| Metric | ||||
|---|---|---|---|---|
| ROE (TTM)Return on equity | +12.4% | +4.5% | +9.4% | -16.5% |
| ROA (TTM)Return on assets | +6.9% | +2.1% | +175.8% | -5.4% |
| ROICReturn on invested capital | +8.8% | +4.3% | +6.0% | -1.4% |
| ROCEReturn on capital employed | +11.1% | +5.4% | +7.5% | -1.7% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 7 | 6 | 5 |
| Debt / EquityFinancial leverage | 0.51x | 0.76x | 0.59x | 1.64x |
| Net DebtTotal debt minus cash | $10.4B | $18.3B | $26.3B | $8.0B |
| Cash & Equiv.Liquid assets | $2.0B | $851M | $2.2B | $2.0B |
| Total DebtShort + long-term debt | $12.4B | $19.2B | $28.5B | $10.0B |
| Interest CoverageEBIT ÷ Interest expense | 11.03x | 4.09x | 9.08x | -0.83x |
Total Returns (Dividends Reinvested)
BSX leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in BSX five years ago would be worth $13,117 today (with dividends reinvested), compared to $2,566 for BAX. Over the past 12 months, BDX leads with a +51.8% total return vs BSX's -46.0%. The 3-year compound annual growth rate (CAGR) favors BSX at 2.1% vs BAX's -24.1% — a key indicator of consistent wealth creation.
| Metric | ||||
|---|---|---|---|---|
| YTD ReturnYear-to-date | -40.3% | +0.7% | -18.1% | -10.2% |
| 1-Year ReturnPast 12 months | -46.0% | +51.8% | -2.8% | -41.8% |
| 3-Year ReturnCumulative with dividends | +6.5% | +5.0% | -4.2% | -56.3% |
| 5-Year ReturnCumulative with dividends | +31.2% | +16.9% | -27.7% | -74.3% |
| 10-Year ReturnCumulative with dividends | +155.5% | +80.2% | +26.5% | -42.4% |
| CAGR (3Y)Annualised 3-year return | +2.1% | +1.6% | -1.4% | -24.1% |
Risk & Volatility
Evenly matched — BSX and BDX each lead in 1 of 2 comparable metrics.
Risk & Volatility
BSX is the less volatile stock with a 0.34 beta — it tends to amplify market swings less than BAX's 1.37 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. BDX currently trades 74.6% from its 52-week high vs BSX's 51.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||||
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.34x | 0.66x | 0.47x | 1.37x |
| 52-Week HighHighest price in past year | $109.50 | $205.52 | $106.33 | $32.68 |
| 52-Week LowLowest price in past year | $54.98 | $100.31 | $77.16 | $15.73 |
| % of 52W HighCurrent price vs 52-week peak | +51.7% | +74.6% | +73.3% | +53.6% |
| RSI (14)Momentum oscillator 0–100 | 33.2 | 32.2 | 27.3 | 44.0 |
| Avg Volume (50D)Average daily shares traded | 15.5M | 2.5M | 7.8M | 8.7M |
Analyst Outlook
Evenly matched — MDT and BAX each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: BSX as "Buy", BDX as "Buy", MDT as "Buy", BAX as "Hold". Consensus price targets imply 61.4% upside for BSX (target: $91) vs 12.8% for BDX (target: $173). For income investors, BAX offers the higher dividend yield at 3.87% vs BDX's 2.72%.
| Metric | ||||
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Hold |
| Price TargetConsensus 12-month target | $91.33 | $172.85 | $109.50 | $19.75 |
| # AnalystsCovering analysts | 43 | 33 | 49 | 36 |
| Dividend YieldAnnual dividend ÷ price | — | +2.7% | +3.6% | +3.9% |
| Dividend StreakConsecutive years of raises | 0 | 1 | 36 | 0 |
| Dividend / ShareAnnual DPS | — | $4.17 | $2.78 | $0.68 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.8% | +3.2% | 0.0% |
BSX leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). BAX leads in 1 (Valuation Metrics). 2 tied.
BSX vs BDX vs MDT vs BAX: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is BSX or BDX or MDT or BAX a better buy right now?
For growth investors, Boston Scientific Corporation (BSX) is the stronger pick with 19.
9% revenue growth year-over-year, versus 3. 6% for Medtronic plc (MDT). Medtronic plc (MDT) offers the better valuation at 21. 6x trailing P/E (14. 1x forward), making it the more compelling value choice. Analysts rate Boston Scientific Corporation (BSX) a "Buy" — based on 43 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BSX or BDX or MDT or BAX?
On trailing P/E, Medtronic plc (MDT) is the cheapest at 21.
6x versus Boston Scientific Corporation at 29. 2x. On forward P/E, Baxter International Inc. is actually cheaper at 9. 2x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Becton, Dickinson and Company wins at 0. 74x versus Medtronic plc's 36. 00x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — BSX or BDX or MDT or BAX?
Over the past 5 years, Boston Scientific Corporation (BSX) delivered a total return of +31.
2%, compared to -74. 3% for Baxter International Inc. (BAX). Over 10 years, the gap is even starker: BSX returned +155. 5% versus BAX's -42. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BSX or BDX or MDT or BAX?
By beta (market sensitivity over 5 years), Boston Scientific Corporation (BSX) is the lower-risk stock at 0.
34β versus Baxter International Inc. 's 1. 37β — meaning BAX is approximately 299% more volatile than BSX relative to the S&P 500. On balance sheet safety, Boston Scientific Corporation (BSX) carries a lower debt/equity ratio of 51% versus 164% for Baxter International Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — BSX or BDX or MDT or BAX?
By revenue growth (latest reported year), Boston Scientific Corporation (BSX) is pulling ahead at 19.
9% versus 3. 6% for Medtronic plc (MDT). On earnings-per-share growth, the picture is similar: Boston Scientific Corporation grew EPS 55. 2% year-over-year, compared to -37. 8% for Baxter International Inc.. Over a 3-year CAGR, BSX leads at 16. 5% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — BSX or BDX or MDT or BAX?
Boston Scientific Corporation (BSX) is the more profitable company, earning 14.
4% net margin versus -8. 5% for Baxter International Inc. — meaning it keeps 14. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BSX leads at 19. 8% versus -2. 7% for BAX. At the gross margin level — before operating expenses — BSX leads at 69. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is BSX or BDX or MDT or BAX more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, Becton, Dickinson and Company (BDX) is the more undervalued stock at a PEG of 0. 74x versus Medtronic plc's 36. 00x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Baxter International Inc. (BAX) trades at 9. 2x forward P/E versus 16. 7x for Boston Scientific Corporation — 7. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for BSX: 61. 4% to $91. 33.
08Which pays a better dividend — BSX or BDX or MDT or BAX?
In this comparison, BAX (3.
9% yield), MDT (3. 6% yield), BDX (2. 7% yield) pay a dividend. BSX does not pay a meaningful dividend and should not be held primarily for income.
09Is BSX or BDX or MDT or BAX better for a retirement portfolio?
For long-horizon retirement investors, Medtronic plc (MDT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
47), 3. 6% yield). Both have compounded well over 10 years (MDT: +26. 5%, BAX: -42. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between BSX and BDX and MDT and BAX?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: BSX is a mid-cap high-growth stock; BDX is a mid-cap quality compounder stock; MDT is a mid-cap income-oriented stock; BAX is a small-cap income-oriented stock. BDX, MDT, BAX pay a dividend while BSX does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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