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Intuitive Surgical completes $2B accelerated share repurchase

Intuitive Surgical Inc. completed its accelerated share repurchase program to buy back $2.0 billion of its common stock.

On Jan. 27, Intuitive made a payment of $2.0 billion to Goldman Sachs & Co. and Goldman delivered to Intuitive an initial delivery of about 2.4 million Intuitive common shares.

Settlement was based on the daily volume-weighted average price per share during the repurchase period, less a discount, and resulted in Intuitive being required either to deliver shares or to make a cash payment to Goldman.

Intuitive made a final settlement payment of $274.0 million to Goldman on Dec. 7. After final settlement, the remaining amount of share repurchases authorized by Intuitive's board was about $717.5 million.