The Board Of Directors Of Select Medical Has Authorized A Common Stock Repurchase Program To Repurchase Up To $1B Worth Of Shares Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
The Board of Directors of Select Medical has authorized a common stock repurchase program, allowing the company to repurchase up to $1 billion worth of its common stock. This move indicates the company's confidence in its financial health and future prospects.
May 02, 2024 | 9:40 pm
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POSITIVE IMPACT
Select Medical's new $1 billion stock repurchase program reflects a strong commitment to shareholder value and could positively influence its stock price in the short term.
Stock repurchase programs often lead to an increase in the stock price as they reduce the number of shares available in the market, making each share more valuable. Additionally, such programs signal to investors that the company believes its stock is undervalued and that it has strong financial health to support buying back its shares. This can lead to increased investor confidence and potentially drive up the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100