Progyny Announces $100M Share Repurchase Program Approved By Board Of Directors; To Be Funded Through Available Cash Balances
Portfolio Pulse from Benzinga Newsdesk
Progyny has announced a $100 million share repurchase program approved by its Board of Directors, which will be funded through available cash balances.
May 22, 2024 | 9:01 pm
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Progyny's Board of Directors has approved a $100 million share repurchase program, which will be funded through the company's available cash balances. This move is likely to positively impact the stock price in the short term as it signals confidence in the company's financial health and future prospects.
Share repurchase programs typically indicate that a company believes its stock is undervalued and is confident in its financial stability. This can lead to a positive short-term impact on the stock price as it reduces the number of shares outstanding, potentially increasing earnings per share (EPS).
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