Cyberonics approves share buyback program 

The board of Cyberonics Inc. has approved a new share repurchase program of up to 1 million shares.

This replaces an older buyback program of 1 million shares. The Houston medical technology company repurchased 515,000 shares under the program.

Cyberonics (NASDAQ: CYBX) expects to complete this program by the end of fiscal 2011.

The company has about 27.7 million shares outstanding.