Stryker CFO Preston Wells told investors at the Wells Fargo Healthcare Conference on September 10 that the cyberattack disclosed in March took manufacturing down for several weeks. It is still holding back the peripheral vascular unit. Wells put the third quarter hit at 70 to 80 basis points of sales, about $45 million. The company kept its full year guidance.
The damage sits in the business Stryker bought from Inari Medical for $4.9 billion in 2025. Inventory is short enough that Stryker is rationing supply to its largest accounts and is not chasing new business. Wells moved the fix from the third quarter to the fourth. "It's something that we're working to get rectified as soon as possible," he said. Shares traded around $273 on September 11, down more than 10 percent for the week.
Six months after an intrusion claimed by pro-Iran hackers, the lasting cost shows up in a factory integration that was mid-transfer when systems went down. Recovery plans rarely account for a plant that has to relearn a process it never finished adopting.