OraSure Technologies, Inc. announced that its Board of Directors has authorized a stock repurchase program of up to $40 million of its common stock. This program is set to be executed over the next twenty-four months, demonstrating the company's commitment to enhancing shareholder value.
The repurchase program will be funded from the company's existing cash on hand. Management will determine the amount and timing of share repurchases at its discretion, in compliance with applicable state and federal securities laws.
This initiative reflects OraSure's strong balance sheet and its strategic approach to capital allocation. The program provides flexibility to repurchase shares when deemed appropriate, potentially reducing the number of outstanding shares and increasing earnings per share.
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