Boston Scientific Corporation (BSX), a medical device company, Monday announced that it has agreed to an accelerated share repurchase agreement of $2 billion of its common stock with JPMorgan Chase Bank, National Association as part of its previously announced $5 billion share repurchase authorization.
As per the ASR, Boston Scientific will pay the repurchase price based on the closing share price of the company's common stock as on May 15 and receive common stock with an aggregate value of 80 percent of the repurchase price, representing around 30.4 million shares based on the May 15, closing price of $52.68.
The final settlement of the ASR is expected to be completed on June 30, following which the company will have $3 billion remaining available under the share repurchase authorization.
Further, the ASR is surmised to have a net impact of $0.02 on adjusted earnings per share for the fiscal 2026 accretive to Boston Scientific's previously issued guidance on April 22.
In pre-market activity, BSX shares were trading at $53.63, up 1.76% on the New York Stock Exchange.
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