Boston Scientific Shares Fall After Cyberattack Impacts Sales and Earnings Guidance
Boston Scientific (BSX) shares dropped approximately 6% following the company's announcement of reduced fourth-quarter and full-year guidance. The downward revision stems from an eight-day operational disruption caused by a cyberattack, which management estimates cost the company 300 basis points in sales growth and $0.07 in adjusted earnings per share. In its third-quarter results, the medical device maker reported a 1.5% sales increase and $0.73 in adjusted EPS, missing previous guidance of 3% to 5% sales growth and $0.80 to $0.82 in adjusted EPS. CEO Mahoney indicated that recovery will be gradual, projecting 2027 as the trough in the current cycle despite upcoming product innovations and the pending acquisition of Penumbra.