KFDA - NewsChannel 10 / Amarillo, TX: newschannel10.comICU Medical board increases stock buyback program
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SAN CLEMENTE, Calif. (AP) - Medical products maker ICU Medical Inc. said Tuesday its board of directors added $15 million to the company's stock buyback plan.
The company is now authorized to buy back up to $55 million in stock. The program was initiated July 18 with authorizations for up to $40 million in stock buybacks.
The company said it has the ability and intends to buy back up to about $43.5 million of its common stock in the open market.
As of Oct. 19, it has about 14.8 million shares of common stock outstanding.
Shares of ICUMedical rose $2.70, or 7.5 percent, to $38.49 in afternoon trading. The stock has traded between $25.33 and $44.06 over the last 52 weeks.
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