Analogic will repurchase $60m in stock

Analogic Corp., which makes high-precision health and security imaging equipment, said today that its board authorized the repurchase of up to $60 million in stock.

Analogic, which had about 14 million shares outstanding as of May 31, will find the purchases with available cash.

"Even with the completion of this stock buyback, we will still have sufficient cash available to meet our strategic goals and objectives," said James Green, president and chief executive.

Shares of Analogic closed Wednesday at $66.49. The stock has traded in a 52-week range of $43.78 to $66.98. (AP)