Kensey Nash plans stock buyback

Kensey Nash Corp. today announced a repurchase program for as much as 400,000 of its shares of common stock.

As of Nov. 30, the Exton medical technology company had 11 million shares outstanding.

The buyback will be funded from available cash.

The company's stock price has declined to $22.91 in today's noon trading from $29.40 in early August.

Kensey Nash sells biomaterials, which are used in implants and can treat or replace tissue, and endovascular products, which are used to treat blocked blood vessels.    - Paul Schweizer