Henry Schein (HSIC) Increases Share Buyback by $400M

August 18, 2022 6:32 AM EDT

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 May 2021, which was fully executed.

The Company had approximately 136 million shares outstanding as of August 17, 2022. This new authorization represents approximately 3.9 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 and creating sustainable value by investing in our business for growth,” said Ronald N. South, Senior Vice President and Chief Financial Officer of Henry Schein. “We are acutely focused on deploying capital to drive long-term value and executing on our balanced capital allocation strategy, which includes investments to support organic growth, strategic acquisitions, and share repurchases.”

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