Wells Fargo estimates Boston Scientific's August cybersecurity incident will cost roughly $300 million in third-quarter sales and about $0.13 per share in earnings. Analyst Larry Biegelsen lowered the firm's price target on Boston Scientific to $48 from $50 on September 24 while maintaining an Equal Weight rating, and cut fiscal Q3 estimates to reflect eight days of operational downtime. Boston Scientific disclosed unauthorized activity on certain systems on August 25 that caused a network outage affecting manufacturing and order processing, and said the incident was likely to materially impact its third-quarter and full-year 2026 results. The company reported on September 9 that manufacturing, order fulfillment, and shipping were fully restored, and it now expects full-year 2026 net sales growth of approximately 5.5 to 6.5 percent on a reported basis and 5 to 6 percent organically, with adjusted EPS of $3.28 to $3.32. Wells Fargo left its growth estimates for 2027 and beyond unchanged, and Boston Scientific plans to provide an updated operational and financial outlook when it reports third-quarter results on October 28.
Boston Scientific CorpWells Fargo cut its price target to $48 and slashed Q3 estimates on a ~$300M sales and ~$0.13 EPS hit from the August cyber incident.
Wells Fargo & Company