MiMedx Group, Inc. (MDXG) shares are up almost 3% pre-bell after the manufacturer of regenerative biomaterials and bioimplants processed from human amniotic membrane, said directors have approved a $10 million share buyback.
The program runs through to December 2014.
“The announcement of the stock repurchase program reflects the Board’s and management’s confidence in the long-term growth prospects of the company’s business and favorable outlook for earnings and cash flows,” said Parker H. Petit, Chairman and CEO.
The shares recently traded at $5.57 with a 52-week range of $1.81 – $8.80.
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