Stryker Approves $2 Billion in Buybacks

Stryker (SYK) just said that its board approved a $2 billion buyback of its shares. The company has a market cap of $35 billion so that’s a sizeable amount.

Chairman and Chief Executive Kevin A. Lobo said merger-and-acquisition activity across the company’s offerings remains the primary focus of Stryker’s long-term growth strategy, and that the stock-buyback authorization “recognizes that the strength of our balance sheet is sufficient to enable more significant share repurchases.”

Since Thanksgiving, the shares have mostly bounced between $90 and $96. A few weeks ago, Stryker raised its dividend by 13%.

Posted by on March 4th, 2015 at 9:34 am


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