Seeking Alpha

WebMD gains after upping buyback by $40M

  • Just six weeks after adding $50M to its buyback authorization, WebMD (WBMD +5.6%) is tacking on another $40M. (8-K)
  • The company adds it has spent $58.7M in Q1 to buy back 1.4M shares (implied avg. purchase price of $41.92). After factoring those purchases, WebMD now has $51M available under its authorization.
  • WebMD spent $211.3M on buybacks in Q4. It ended 2013 with $855M in cash, and $952M in debt.
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