Medstone to Repurchase Some of Its Stock

Medstone International Inc. said it plans to repurchase up to 500,000 shares of its common stock in the open market from time to time.

David Radlinski, chief executive officer, said the decision was prompted by the company’s low stock price. Medstone stock, which had traded as high as $12.75 per share last year, slipped below $9 last week in trading on the Nasdaq market. The price “does not reflect the true long-term value of the company,” he said.

The company said it has no specific plans for the repurchased shares, other than to reissue them in connection with its employee stock plans.

Medstone makes machines that pulverize kidney stones.