RE:CRH resumes repurchasesgood news - this really sets a floor on the stock price.
i also think it bodes well for a takeover/sale of the company - as the share count reduces through the NCIB and cancellation of shares, a bigger premium over the current share price can be made. ex - if there are 7MM less shares, that is 7MM less shares a premium has to be paid on. that could be a considerable amount of money for an acquirer.
CRH is also ripe for a transformative acquisition - they could swallow up a large swath of GI ASCs at any time and borrow the funds to do so. there's a reason there is so much instutional coverage on a stock with this Market Cap - bankers are likely chomping at the bit to do a deal. i'd expect another up-sizing in their credit facility in the future if the growth pattern continues.
despite the poor share performance i'm really confident in the value of this company. i just hope the whole CMS debacle and the insider sales in 2017 haven't soured the institutional investment community on this name.