Boston Scientific has begun restoring shipping capabilities for most of its products across its major distribution centers worldwide following a recent cybersecurity incident, causing its shares to trade higher on Friday. The Marlborough, Massachusetts-based medical device maker had disclosed last week that the incident disrupted its worldwide operations. With assistance from CrowdStrike and other experts, Boston Scientific said it is increasingly confident that unauthorized access was limited to some internal-facing IT infrastructure. The company noted it will take time to clear the current backlog as it progressively moves customer orders through the fulfillment process. TD Cowen analyst Joshua Jennings, who has a Buy rating and a $56 price target, called the update a big step forward, adding that the stock reaction fails to reflect the progress.
Boston Scientific CorpRestoring shipping after cyberattack resolves operational disruption
Crowdstrike Holdings IncAssisted Boston Scientific in resolving cyberattack, showcasing expertise
International Business Machines