09:05 AM EDT, 10/25/2024 (MT Newswires) -- Shares of Align Technology ( ALGN ) were higher premarket Friday after the dental technology company said it is planning to buyback $275 million of its common stock via open market repurchases.

The open market repurchases are part of the company's $1 billion share buyback program that was approved by the board in January 2023.

The buybacks are slated for completion by the end of January 2025 and will be funded with the company's cash on hand, Align said.

Price: 223.00, Change: +6.58, Percent Change: +3.04