AUDUBON, PA — Globus Medical, Inc. (NYSE: GMED) announced that its Board of Directors has authorized a share repurchase program of up to $500 million of the company’s common stock.
“We believe the recent volatility in our share price has created a meaningful disconnect between our intrinsic value and our market valuation,” said Keith Pfeil, Chief Financial Officer and Chief Operating Officer of Globus Medical. “Given our strong track record of growth and profitability, we are confident in the long-term strength of our business. This repurchase authorization reflects that confidence and reinforces our commitment to delivering long-term value to our shareholders.”
The number and timing of shares repurchased will be determined by management based on factors such as market price, business conditions, legal requirements, and investment opportunities. The program aligns with the company’s strategy of prioritizing long-term business growth.
Repurchases may occur through private or open market transactions, including those under a Rule 10b5-1 or 10b-18 plan. The program has no time limit and may be paused or discontinued at any time. The company will use cash reserves to fund the program.
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