Boston Scientific Hit by Cyberattack Disrupting Global Operations
BSX sits 18% above its 52-week low of $42.2.
Summary
Boston Scientific disclosed a cyberattack that is disrupting global operations, including order processing and shipping. The company does not yet know the full scope, operational or financial impact, or whether it will be material. It is working with cybersecurity experts but has no timeline for restoration. This follows a Q2 earnings cut and a $700M-$800M restructuring plan announced in July, adding operational risk to an already pressured outlook. The breach comes amid a rise in healthcare-sector cyberattacks, with Medtronic and Stryker hit earlier this year.
At the time of this announcement, BSX was trading at $49.91 on NYSE in the Life Sciences sector, with a market capitalization of approximately $72.3B. The 52-week trading range was $42.20 to $109.50. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.