asf, thats the highest price they have paid - 34 cents. they can buy up to 42 cents.
I agree they don't want to buy at the higher end. but from their own numbers at the start (number of shares and money to be spent) the current price appears well below their expected average purchase level.
Also, the company's primary aim is to create shareholder wealth. if creating some buying action above current price does this, then why not? setting a floor at current levels (not even convinced this is the case) hasn't exactly created any interest in the share price has it? it has done nothing! The stock looks cheap, so create some interest I say.
Over the next few months they should be purchasing between 28-34 cents in my view. if they have to go higher in the last few months of the buy back, do it! At least this increases share holder wealth.
On the Copmany, recent DGX announcements have been good. An update on their combined projects over the next few years would also be a positive.
DGX Price at posting:
23.3¢ Sentiment: Hold Disclosure: Held
