Boston Scientific stock absorbs a USD 20.00 target cut
π Oppenheimer cut Boston Scientific's price target from USD 85.00 to USD 65.00 on September 21, 2026, citing an August cybersecurity incident.
π» The company identified unauthorized activity on August 25, 2026, causing a network outage that disrupted manufacturing and shipments.
π Q2 net sales rose 7.5% to USD 5.442 billion, with adjusted EPS of USD 0.86 beating the USD 0.82-0.84 guidance range.
β€οΈ Cardiovascular business generated USD 3.624 billion in sales, up 8.3%, while MedSurg sales reached USD 1.818 billion, up 5.9%.
π Boston Scientific expects to update its operational and financial outlook on October 28, 2026, when discussing Q3 results.
π Manufacturing has resumed across most global facilities, though distribution centers are processing orders at normal or above-normal levels.
π The average 12-month price objective among thirty-one research firms is USD 70.19, with twenty-three buy ratings and six holds.
π Wells Fargo also lowered its target from USD 50.00 to USD 48.00 on September 23, 2026, despite retaining an Outperform rating.
π° Boston Scientific has a market capitalization of USD 65.2 billion and trades under the ticker BSX on the New York Stock Exchange.
π The cybersecurity incident is expected to have a material impact on third-quarter and full-year 2026 financial results.
- Boston Scientific reported Q2 net sales of USD 5.442 billion, representing a 7.5% increase from the prior year period.
- Adjusted earnings per share reached USD 0.86 in the second quarter, exceeding the company's guidance range of USD 0.82 to USD 0.84.
- The Cardiovascular business delivered strong growth with USD 3.624 billion in sales, up 8.3% year-over-year.
- MedSurg sales increased by 5.9% to reach USD 1.818 billion during the second quarter.
- Manufacturing operations have resumed across most global facilities following the recent cybersecurity incident.
- Major distribution centers are currently processing orders at or above normal operating levels.
- Oppenheimer cut its price target from USD 85.00 to USD 65.00 due to an August cybersecurity incident disrupting operations.
- The company identified unauthorized activity on August 25, 2026, which caused a network outage affecting manufacturing and shipments.
- Boston Scientific stated the cybersecurity incident is likely to have a material impact on third-quarter and full-year 2026 results.