On August 26, Boston Scientific fell 4.94% in regular trading, trading at $47.78/share, with turnover of $183 million. The decline was driven by the company's disclosure of a cybersecurity incident that has caused widespread disruption to its global operations.
According to a filing with the SEC, Boston Scientific identified a cybersecurity incident affecting certain IT systems, leading to global operational disruption. The company stated the incident continues to impact operations, limiting the processing and shipment of customer orders. The timeline for full restoration remains unknown, and the company has not yet determined whether the incident will have a material impact on its financial results.
The stock was already under pressure following a Q2 earnings report in late July that saw the company lower full-year adjusted EPS guidance to $3.28-$3.32, below the consensus estimate of $3.36. The Watchman business is expected to see mid-to-high single-digit revenue declines in the second half, and multiple analysts subsequently cut price targets, with Argus downgrading the stock to Hold.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)