Henry Schein (HSIC) Announces $400 Million Increase to Share Repurchase Plan
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Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care products and services to office-based dental and medical practitioners, announced today that its Board of Directors has authorized the repurchase of up to $400 million of shares of the Company's common stock.
This program is in addition to the $400 million repurchase program announced in October 2019, which as of today has approximately $33 million remaining authorized for future repurchases.
The Company had approximately 140 million shares outstanding as of May 13, 2021. This new authorization represents approximately 4.0 percent of shares outstanding at the current stock price. Purchases may be made from time to time in the open market, or through negotiated transactions.
“This new share repurchase authorization reflects our team’s commitment to delivering on our strategic priorities, as well as our ability to generate solid cash flow,” said Steven Paladino, Executive Vice President and Chief Financial Officer of Henry Schein. “The plan provides us with the flexibility to execute on our balanced capital allocation strategy, which includes investments to support organic growth, strategic acquisitions, and share repurchases.”
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