Nature's Sunshine sets 1 mln shr buyback

October 20, 1999 2:08 PM EDT

PROVO, Utah, Oct 20 (Reuters) - Nature's Sunshine Products Inc., a maker of herb and vitamin capsules, on Wednesday said its board had authorized the repurchase of up to one million shares, or about 6 percent, of its outstanding common stock.

The company said in a statement it believes its stock is undervalued.

Its shares were up 1/4 at eight in early Nasdaq trading but remain near their 52-week low of 7-1/4. The stock had a 52-week high of 17-3/4.

Nature's Sunshine said it had completed a 500,000-share buyback that had been authorized in May. Over the past two years, it has repurchased 1.5 million shares, it said.

Repurchases will be made in the open market and the shares will be used for general corporate purposes.

REUTERS

© Reuters Ltd. All rights reserved.

4946 

© 1996-2000 Target Media Group, Inc. All Rights Reserved. Not to be reproduced or copied, in whole or in part without prior written permission. Publication, product, and company names may be registered trademarks of their respective owners.  Please direct all questions to our webmaster.