Boston Scientific (BSX) has issued a warning about its financial results following a recent cyberattack on the medical device maker.
Management at the company said they are unlikely to hit quarterly and full-year guidance targets as the fallout from a cyberattack in late August takes its toll.
Boston Scientific issued a regulatory filing that said it was “unlikely to meet” net sales growth and adjusted earnings guidance ranges for the third quarter and full year.
The company previously forecast full-year sales growth of 5.5% to 6.5% and earnings per share (EPS) of $3.28 U.S. to $3.32 U.S.
Boston Scientific forecast third-quarter sales growth of 3% to 5% with earnings of $0.80 U.S. to $0.82 U.S.
News that the company is unlikely to meet its guidance comes after Boston Scientific experienced a cyberattack on Aug. 25 that disrupted its global operations.
Boston Scientific has said that the investigation into the cyberattack and its causes “remains ongoing” and that the full impacts of the incident are not yet known.
Management has said that they will provide an update on its operational and financial outlook, including the cyberattack impacts, during the company’s third-quarter earnings call on Oct. 28.
BSX stock has declined 50% this year to trade at $47.80 U.S. per share.
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