A company can't buyback in any day more than 10% of the average volume of the prior 30 days. That means UTMD can buyback a few hundred shares a day. Even if they could buyback 20,000 shares in a day, they'd fire the broker that executed this for them.
I did some additional research: I thought the buyback limitation was to 10% of the prior month's average daily trading volume but what I just read says 25%. Either way, in UTMD's case it is less than a few thousand shares. Also, you can't buyback shares in the last half hour of trading.