On September 8, Boston Scientific fell 3.09% in regular trading, trading at $46.325/share, with turnover of $230 million. The decline was driven by the company formally downgrading its financial outlook after a cybersecurity incident disrupted global operations.

According to an SEC filing, Boston Scientific first identified the cybersecurity incident on August 25, which caused a network outage affecting access to certain operating systems and business applications. The disruption has broadly impacted global operations, limiting the processing and shipment of customer orders across multiple markets. The company stated it is unlikely to meet its previously issued net sales growth and adjusted EPS guidance ranges for both the third quarter and the full fiscal year.

Boston Scientific noted it has not identified evidence of ongoing unauthorized access and is working with third-party cybersecurity experts to investigate and contain the impact. The company added that sterilization facilities are now fully operational and most global manufacturing plants have resumed production. While the company expects to recover part of the impacted revenue, it emphasized the incident is not expected to have a material impact on its long-term financial position. Separately, the FDA recently classified the recall of its ENROUTE percutaneous catheters at the highest severity level due to arterial sheath tip separation risks, adding further pressure on shares.

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