Henry Schein Sets New $300 Million Share Buyback Program

Henry Schein Inc. announced on Friday a new $300 million share repurchase program, which at current share prices would represent about 3% of the total shares outstanding. The medical products provider's previous $300 million buyback program, announced in December 2013, still has $10.5 million remaining for purchases. "Our strong balance sheet provides us with the financial flexibility to return capital to shareholders while continuing to invest in our business and maintaining our ability to capitalize on our growth opportunities," said Chief Executive Stanley Bergman. The stock, which is inactive in premarket trade, has gained 20% so far this year through Thursday, compared with a 12% gain in the S&P 500.