Henry Schein sets new $400 million stock repurchase progam

Henry Schein Inc.
HSIC,
+0.37%
said Monday that it has authorized a new $400 million share repurchase program. Based on Friday’s closing price for the medical product company’s stock, the new buyback program represents 3.4% of the company’s market capitalization of $11.67 billion. The company said the new program is in addition to the $400 million program announced in August 2022, which is expected to be completed by the end of the first quarter. The stock, which is still inactive in premarket trading, has rallied 9.5% over the past three months while the S&P 500
SPX,
+0.22%
has edged up 2.4%.