Henry Schein (NSDQ:HSIC) announced today that it entered into amendments to reinstate its share repurchase program.
Melville, N.Y.-based Henry Schein’s amendments to its private placement facility permit the company to reinstate the share repurchase program, according to a news release.
The company said it had $201 million authorized and available for future stock repurchases at the end of fiscal 2020.
“Henry Schein has a long history of increasing shareholder value,” Henry Schein chairman & CEO Stanley M. Bergman said in the release. “Our solid cash flow has enabled us to continue to invest in the business, both through strategic acquisitions and share repurchases, reflecting our commitment to continue to deliver an attractive return on capital.”
Shares of HSIC were up 4.8% at $65.58 per share in midday trading today after the release of the news. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -0.6%.