Stock Market Today, Oct. 28: Boston Scientific Slips 6% After Cutting Q4 Sales and Full-Year EPS Guidance on Cyberattack Impact
Today, Oct. 28, 2026, the medical device maker slashed profit expectations after an August cyberattack continued disrupting operations.
On October 28, Boston Scientific (BSX) experienced a significant 6% drop in stock price following the disclosure of lower sales and earnings guidance due to a recent cyberattack. The company's shares closed at $42.44, marking a decline of 5.81%. Trading volume surged to 66.8 million shares, exceeding the three-month average by 234%. The broader market also saw gains, with the S&P 500 (^GSPC) closing at 7,744, up 0.28%, and the Nasdaq Composite (^IXIC) at 26,550, up 0.27%.
Despite guidance for a modest 3% to 5% sales growth in Q3 and adjusted EPS of $0.80 to $0.82, Boston Scientific underperformed, reporting a 1.5% sales increase and $0.73 in adjusted EPS. Management attributed the shortfall to an eight-day cyberattack disruption that they estimate cost the company 300 basis points in sales growth and $0.07 in adjusted EPS. They expect the impact to be prolonged, projecting only a 3.75% sales growth in 2026 rather than a swift recovery.
CEO Mahoney noted that 2027 is anticipated to be the low point of the cycle, and while the company has several investments and new innovations planned over the next three years, he emphasized, "We believe that 2027 will be the trough in the cycle." Currently, BSX is trading at a relatively low valuation of 13 times forward earnings, which could potentially open the door for a turnaround, particularly if the pending acquisition of Penumbra proceeds smoothly.
The reporter maintains a cautious stance on investing in Boston Scientific, preferring to watch for signs of progress before committing.
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