Globus Medical Announces $200 Million Share Repurchase Program
Globus Medical, Inc. Class A (GMED)
Last globus medical, inc. class a earnings: 2/20 04:15 pm
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US:NYSE Investor Relations:
investors.globusmedical.com
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Source: GlobeNewswire
AUDUBON, Pa., March 11, 2020 (GLOBE NEWSWIRE) -- Globus Medical, Inc. (NYSE:GMED), a leading musculoskeletal solutions company, today announced the Board of Directors authorized the repurchase of $200 million of the Company’s common stock. “We believe the recent stock market volatility has created a significant divergence between the intrinsic value of Globus Medical and its value in the market,” said David Paul, Executive Chairman. “Given our growth and profitability profile, we believe the Company’s shares will reflect our above market performance over the long term. Our strong cash position enables us to purchase a significant number of shares without limiting our ability to continue to invest in strategic growth opportunities.” The timing and actual number of shares repurchased will be determined by management at its discretion and will depend on a variety of factors, including market price of the shares, general business and market conditions, applicable legal requir
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