Henry Schein will buy back $400M of shares

Henry Schein will buy back as much as $400 million worth of shares of its common stock, the company announced.

The new authorization represents about 3.0% of the 83 million outstanding company shares, as of October 26, 2015. Purchases may be made periodically in the open market, or through negotiated transactions, the company said. The move is in addition to the $300 million repurchase program announced December 2014.

"Henry Schein's share repurchase program demonstrates our long-term commitment to increasing shareholder value, and reflects our confidence in the long-term prospects of our business," stated Stanley Bergman, chairman of the board and CEO of Henry Schein, in a press release.