Intuitive Surgical Announces $2.0 Bln Accelerated Share Repurchase - Quick Facts

(RTTNews) - Intuitive Surgical, Inc. (ISRG) announced it has entered into an accelerated share repurchase program with Goldman, Sachs & Co. pursuant to which Intuitive Surgical will repurchase $2.0 billion of its common stock from Goldman. Goldman is expected to make an initial delivery by approximately January 27, 2017, to Intuitive of approximately 2.4 million shares of Intuitive's common stock.

Intuitive Surgical had approximately $3.0 billion remaining under its Board authorized stock repurchase program prior to the initiation of the ASR Program. The company said the additional purchases under the remaining authorization, or approximately $1.0 billion, will depend upon market conditions.