Edwards Lifesciences Announces $750 Mln Buyback

(RTTNews) - Edwards Lifesciences Corp. (EW), a medical technology firm, said on Tuesday that it has executed an accelerated share repurchase agreement or ASR to buy back $750 million of its shares.

The company is funding the ASR with its existing cash and following this repurchase, Edwards has around $900 million remaining in its share repurchase authorization approved by its Board.

The ASR allows Edwards to receive an initial delivery of around 8 million shares and the remainder at the maturity of the ASR.

The final number of shares to be repurchased will be based on the volume weighted average share price during the term of the deal, the company said in a statement.

With this, the company has repurchased over $1.7 billion of shares in 2022.

EW was trading up by 2.83 percent at $74.48 per share in pre-market on the New York Stock Exchange.