Most companies rebound fairly quickly if their stock prices are impacted by a data breach. But an update to the Stryker incident is an exception. MassDevice reports:
Stryker (NYSE: SYK) stock plunged this week after its CFO said the orthopedic and surgical device giant is still managing supply disruptions after an Iran-backed cyberattack earlier this year.
SYK shares are down more than 10% over the past five days, trading at around $273 apiece, though the stock was up more than 1% today.
During a Sept. 8 presentation at Wells Fargo’s 21st annual healthcare conference, held in Boston, CFO Preston Wells said Stryker’s peripheral vascular business, acquired last year through the $4.9 billion purchase of Inari Medical, hadn’t recovered as company officials expected. The business involves catheter-based mechanical thrombectomy devices.
Read more at MassDevice.
