By Colin Kellaher

Intuitive Surgical Inc. on Tuesday said it signed a $1 billion accelerated share-repurchase agreement with Citibank N.A.

The Sunnyvale, Calif., provider of robotic-assisted surgical technology said it expects an initial delivery of about 3.6 million shares, with final settlement by the end of the year.

Intuitive Surgical, with about 353.4 million shares outstanding, sports a market capitalization of roughly $78 billion based on Monday's closing price of $220.27.

In August, Intuitive Surgical inked a similar $1 billion accelerated buyback with Goldman Sachs, and the company had $2.5 billion in remaining repurchase authorization as of Sept. 30.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 25, 2022 09:42 ET (13:42 GMT)

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