Universal Health Services, King of Prussia, Pa., may expand its stock repurchase program by up to 3.5 million shares, in purchases on the open market and in private transactions. The company's board also authorized repurchase of Universal's convertible debentures due in 2020. Both moves would lower the company's number of shares outstanding, raising earnings per share. Universal in March said it had been studying ways to boost its stock price, including share repurchases and a possible sale or spinoff of some or all of its psychiatric facilities. The company owns or operates 24 acute-care and 45 psychiatric hospitals. -- by Vince Galloro
Universal gets board OK to buy back more stock
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