Intuitive Surgical pays $274m, closes $2B share buyback deal

By Fink Densford | December 8, 2017

Robotic surgical giant Intuitive Surgical (NSDQ:ISRG) paid $274 million to Goldman Sachs to close a nearly year-long buyback of its common stock, according to an SEC filing posted yesterday

The payback was part of a total $3 billion stock repurchasing deal the company initiated on January 27, in which is paid $2 billion for an initial 2.4 million shares of common stock, or 7.3 million after the three-to-one split it approved in August.

The remaining amount of share repurchases authorized in the deal after closing was $717.5 million, according to the SEC filing.

In early November, Intuitive opened the doors on a new $8.9 million surgical innovation training center on South Korea.

About The Author

Fink Densford

Fink Densford received a masters degree in science journalism from Boston University in 2015 after earning dual bachelor degrees in psychology and journalism from the University of Kentucky. Before joining MassDevice, he covered topics ranging from optogenetics, robotics and animal cognition to issues at the intersection of medicine and technology.