Women's Health Weekly
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Business & Finance
Medical devices company updates status of share repurchases
June 16th, 2005
Utah Medical Products, Inc. (UTMD) announced that since the drop in its share price from $26.75 closing price on August 9, 2004, to $17.99 closing price on August 10, 2004, it has repurchased 539,000 shares in the open market for $9,945,000. The approximate $10 million dollar repurchase was funded by profits from continuing UTMD operations and prior cash balances not needed to support operations. The average per share repurchase cost including transaction costs was about $18.46. The recent repurchases represented about 12% of the shares outstanding prior to the August 10, 2004, U.S. Food and Drug Administration (FDA) press release, which apparently...
Source: Women's Health Weekly (2005-06-16)
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