Thermo Fisher Sets New $4 Billion Stock Buyback
15 November 2023 - 12:48AM
Dow Jones News
By Colin Kellaher
Thermo Fisher Scientific's board has approved a new $4 billion
stock buyback.
The Waltham, Mass., Life-sciences giant on Tuesday said the new
program has no expiration date and replaces its prior buyback
authorization, which had about $1 billion remaining.
Thermo Fisher spent $3 billion to buy back 5.2 million shares
during the first nine months of 2023.
The company's stock is down more than 20% so far this year and
reached three-year lows late last month.
Thermo Fisher, which had nearly 386.4 million shares outstanding
as of Sept. 30, sports a market capitalization topping $173 billion
based Monday's closing price of $445.15.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 14, 2023 08:33 ET (13:33 GMT)
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