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Questcor Pharmaceuticals, Inc. (QCOR) Message Board

  • reason204 reason204 Feb 14, 2013 11:37 AM Flag

    Did the stock buying contin ue?

    I can't recall the last time that I saw a company buy in so many of their shares (percentage wise) like this in the open market.

    Take a look at 2012 alone

    Q1...798,200 shares.
    Q2...3,730,100 shares.
    Q3...1,484,300 shares.
    Q4...?????

    With the Citron accusations the company may have stopped buying in shares but I kinda doubt it.

    As best I can tell the company bought in over 20 million shares over the last couple years or over 25% of their shares outstanding which is unheard of.

    So why would they do this you might ask. Obviously the smaller the number outstanding the higher earnings per share and in retrospect the higher the stock price.

    For me the critical item here is did the company blink and stop buying or did they continue which if they kept buying means earnings have to be higher than the street thinks since we already know how much money was in the banks on 12/31/12.

    One last thing here, lets not kid ourselves the company bought their supplier to protect the franchise which I think was an outstanding move. This had nothing to do with expanding the business line and everything to do with insurance.

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QCOR
93.60+1.52(+1.65%)Aug 14 4:00 PMEDT

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