Hydrafacial Brand Owner Beauty Health Plans To Initiate Stock Repurchase Program Next Week
Portfolio Pulse from Shivani Kumaresan
Beauty Health Co (NASDAQ:SKIN) plans to initiate a stock repurchase program on September 26, 2023, through Rule 10b5-1. The company's Board of Directors has authorized the repurchase of up to $100 million of its common stock. The company intends to fund its share repurchases with existing cash on hand and is not obligated to acquire any particular amount of stock. As of June 30, 2023, the company held $549.7 million in cash and equivalents.
September 20, 2023 | 4:03 pm
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Beauty Health Co's announcement of a stock repurchase program could potentially increase investor confidence and drive up the stock price.
Stock repurchase programs are often seen as a sign of a company's confidence in its own stock. By reducing the number of shares outstanding, repurchase programs can increase earnings per share and potentially boost the stock price. However, the extent of the impact will depend on the amount of stock actually repurchased.
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RELEVANCE 100