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Biotech / Medical : PHP Healthcare
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To: Dana who wrote (36)5/21/1998 3:38:00 PM
From: Jim Mac  Read Replies (1) of 136
 
As you know, PHP already bought back 1M shares from Robbins, and had bought back 150,000 shares prior to that on the market. If they plan to take advantage of these excellent prices to buy back the whole 3M before earnings release in early June, then they must be buying back about 100,000 shares a day/500,000 per week. That would give them 4 weeks to get the final 2M off market after first 1M, starting last week. As shorting continues to dry up, while PHP's buying (and others') continues unabated, the balance will shift to the buy side by early June, and PPH will gap up after earnings to the mid-teens.

Take care.
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