Zimmer Announces New $1.5B Stock Repurchase Authorization

ZMH

ZMH

Zimmer Holdings, Inc. Board of Directors authorized a new share repurchase program. The new share repurchase program authorizes purchases of up to $1.5 billion of the Company's common stock through Dec 31, 2014. No further purchases will be made under the earlier program, which authorized purchases through Dec 31, 2013. The Company had 179.2 million shares of common stock outstanding as of Oct 26, 2011.
EventVestor Insights on the impact of Buyback Array event on stock prices:
ZMH stock price outperformed the market 1 out of 2 times over the last two years, by an average 1.6% the day it announced Buyback events. During the one week period after Buyback , the stock outperformed the market 1 out of 2 occasions by an average 0.0%.
ZMH stock price underperformed the market 1 out of 2 times over the last two years, by an average -3.1% the day it announced Buyback events. During the one week period after Buyback , the stock underperformed the market 1 out of 2 occasions by an average -1.4%.
ZMH peers (SYK, MDT) have outperformed the market 1 out of 3 times over the last two years, by an average 1.4% the day they announced Buyback events. During the one week period after Buyback , these stocks outperformed the market 2 out of 3 occasions , by an average 1.6%.
ZMH peers (SYK, MDT) have underperformed the market 2 out of 3 times over the last two years, by an average -0.3% the day they announced Buyback events. During the one week period after Buyback , these stocks underperformed the market 1 out of 3 occasions, by an average -0.1%.

There have been a total of 82 Buyback announcements during the last 1 month.

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