- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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