Proto Labs Boosts Stock Buyback By $50M

by Shivani Kumaresan, Benzinga Staff Writer

November 21, 2022 2:21 PM | 1 min read |

Proto Labs Inc PRLB said its board of directors approved a $50 million increase in its authorized stock repurchase program currently in effect.
The increase expands the existing stock repurchase program to $200 million.
As of November 21, 2022, Protolabs had repurchased an aggregate dollar value of $111 million since the program was initiated in 2017.
The company now has $89 million remaining available to repurchase shares under the expanded repurchase program.
The board has also extended the expiration date to December 31, 2024.
Proto Labs held $113.9 million in cash and equivalents as of September 30, 2022.
Price Action: PRLB shares are trading higher by 3.39% at $24.58 on the last check Monday.