Boston Scientific Corp (BSX) is undervalued and Medtronic Plc (MDT) is overvalued.
Against our estimates of intrinsic value, BSX trades at the wider discount: a margin of safety of +30%, against -25% for MDT.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.0% (average of 3 methods) values the shares at $64.12; the price of $44.92 is 30% below that value, and 80% of that value comes from beyond year five.
Leak Score 73/100 on 10 of 12 signals
Discounting its cash flows at 7.8% (average of 3 methods) values the shares at $72.41; the price of $90.77 is 25% above that value, and 80% of that value comes from beyond year five.
Leak Score 27/100 on 3 of 12 signals
| Metric | BSX | MDT |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $44.92 | $90.77 |
| Intrinsic value | $64.12 | $72.41 |
| Margin of safety | +30% | -25% |
| Leak Score | 73/100 (10/12) | 27/100 (3/12) |
| Market cap | $65.1B | $116.1B |
| Revenue growth, 5 years | 15.2% | 3.8% |
| Operating margin | 21.8% | 19.9% |
| Net margin | 17.5% | 13.9% |
| Return on equity | 15.5% | 10.7% |
| Debt to equity | 0.51 | 0.56 |
| P/E | 18.2x | 22.4x |
| Forward P/E | 13.2x | 14.2x |
| P/B | 2.6x | 2.3x |
| Dividend yield | — | 3.1% |