SonoSite Spends $89M on Share Buyback

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SonoSite Spends $89M on Share Buyback Xconomy Seattle — SonoSite (NASDAQ: SONO), the Bothell, WA-based maker of portable ultrasound machines, said today it has agreed to pay $88.8 million to buy back 2.96 million shares at $30 apiece.That represents about 16.9 percent of the company’s outstanding shares, and leaves it with about 14.5 million shares outstanding.The deal was managed by JP Morgan Securities.SonoSite stock closed yesterday at $29.67, just a few cents below its 52-week high.

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