Hologic Announces $250M Stock Buyback Program
Hologic (NASDAQ: HOLX) today announced that its Board of Directors has authorized the repurchase of up to $250 million of Hologic's outstanding common stock over the next three years.
"The authorization of a stock repurchase program reflects the Board and management team's confidence in Hologic's long-term strategy and growth prospects as well as a commitment to delivering increased value and returning capital to stockholders," said Jack Cumming, President and Chief Executive Officer. "We remain committed to rapidly paying down debt while using Hologic's strong cash flow to strategically invest in profitable organic growth initiatives and return capital to stockholders."
Under the stock repurchase program, the Company is authorized to repurchase, from time-to-time, shares of its outstanding common stock in the open market or in privately negotiated transactions in the United States. The timing and amount of stock repurchases will be determined by the Company's management team based upon its evaluation of market conditions and other factors. The stock repurchase program may be suspended,