The Sunnyvale, Calif.-based company said that the increase is an aggregate and includes amounts remaining under previous authorizations, according to an SEC filing
Intuitive surgical said that it expects to fund the repurchase program through cash and investments, and that the program “does not obligate the company to acquire any particular amount of common stock,” according to the filing.
Shares in Intuitive Surgical are up approximately 0.3% today, at $525.42 as of 11:10 a.m. EST.
Late last month, the medical robotics giant saw share prices fall after it released fourth quarter and fiscal year 2018 earnings that beat sales expectations but fell just short of earnings per share consensus on Wall Street.
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