Source: LOHAS Weekly Newsletter
Published: Thursday, October 01, 1998

With its stock price closing on Sept. 28 at nearly a 52-week low of $16.25, dietary supplements maker Rexall Sundown’s (RXSD) board of directors authorized the repurchase of up to $100 million of its common stock in open market or private transactions. The buyback program would allow the company to purchase about 8.5% of the total common stock outstanding. Analysts attributed the company’s stock price decrease to unwarranted rumors that the company would not meet analysts’ expectations for 4Q98 ending Aug. 31. The company says it is on target to meet earnings estimates of $.28/share for the quarter.