InfuSystem (NYSE:INFU) Shares Up 2.3% – Still a Buy?
by Sarita Garza · The Markets DailyInfuSystem Holdings, Inc. (NYSE:INFU – Get Free Report)’s share price traded up 2.3% during trading on Tuesday . The stock traded as high as $9.20 and last traded at $9.15. Approximately 150,542 shares were traded during trading, a decline of 11% from the average daily volume of 169,051 shares. The stock had previously closed at $8.94.
InfuSystem Stock Performance
The stock has a market cap of $179.42 million, a PE ratio of 148.19 and a beta of 1.40. The stock has a fifty day simple moving average of $9.31 and a two-hundred day simple moving average of $9.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.59 and a current ratio of 1.98.
InfuSystem announced that its board has authorized a share buyback plan on Tuesday, May 19th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the company to repurchase up to 10.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling at InfuSystem
In other news, CFO Barry G. Steele acquired 7,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were purchased at an average price of $8.71 per share, for a total transaction of $60,970.00. Following the acquisition, the chief financial officer directly owned 96,590 shares of the company’s stock, valued at $841,298.90. This represents a 7.81% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Andrew Gendron acquired 5,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was purchased at an average price of $8.88 per share, for a total transaction of $44,400.00. Following the acquisition, the director directly owned 70,000 shares in the company, valued at $621,600. This represents a 7.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 15,000 shares of company stock worth $131,490 in the last ninety days. 10.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of INFU. Arrowstreet Capital Limited Partnership increased its holdings in InfuSystem by 220.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 449,348 shares of the company’s stock worth $4,655,000 after purchasing an additional 308,974 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of InfuSystem in the 3rd quarter valued at approximately $2,096,000. Jane Street Group LLC boosted its stake in shares of InfuSystem by 943.1% during the 2nd quarter. Jane Street Group LLC now owns 186,159 shares of the company’s stock valued at $1,162,000 after buying an additional 168,312 shares during the last quarter. North Star Investment Management Corp. boosted its stake in shares of InfuSystem by 527.6% during the 1st quarter. North Star Investment Management Corp. now owns 182,000 shares of the company’s stock valued at $1,680,000 after buying an additional 153,000 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of InfuSystem by 16,506.6% during the third quarter. Russell Investments Group Ltd. now owns 118,737 shares of the company’s stock worth $1,230,000 after buying an additional 118,022 shares in the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.
About InfuSystem
InfuSystem Holdings Inc is a medical technology company that specializes in the rental, management and servicing of infusion pumps and associated devices used primarily for outpatient infusion therapy. The company provides a comprehensive suite of services that includes equipment delivery, setup and retrieval, preventive and corrective maintenance, reprocessing and quality assurance. InfuSystem’s offerings are designed to help hospitals, ambulatory surgery centers, oncology clinics and private infusion suites streamline clinical operations and maintain compliance with safety standards.
In addition to pump rental and repair services, InfuSystem has expanded into remote patient monitoring solutions.