InfuSystem (NYSE:INFU) Stock Price Up 2.3% – Here’s Why

InfuSystem Holdings, Inc. (NYSE:INFU)’s share price traded up 2.3% during mid-day trading on Tuesday . The stock traded as high as $9.20 and last traded at $9.15. 150,542 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 169,051 shares. The stock had previously closed at $8.94.

InfuSystem Stock Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.98 and a quick ratio of 1.59. The company has a market cap of $184.67 million, a price-to-earnings ratio of 152.53 and a beta of 1.40. The stock has a 50-day moving average price of $9.29 and a 200 day moving average price of $9.13.

InfuSystem announced that its board has initiated a share repurchase program on Tuesday, May 19th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to repurchase up to 10.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at InfuSystem

In related news, CFO Barry G. Steele purchased 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, with a total value of $60,970.00. Following the completion of the purchase, the chief financial officer owned 96,590 shares in the company, valued at $841,298.90. This represents a 7.81% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Andrew Gendron purchased 5,000 shares of InfuSystem stock in a transaction dated Friday, May 8th. The stock was bought at an average price of $8.88 per share, with a total value of $44,400.00. Following the acquisition, the director directly owned 70,000 shares of the company’s stock, valued at approximately $621,600. This trade represents a 7.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 15,000 shares of company stock worth $131,490 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On InfuSystem

A number of hedge funds and other institutional investors have recently made changes to their positions in INFU. Quarry LP bought a new stake in InfuSystem in the 4th quarter valued at $31,000. Raymond James Financial Inc. acquired a new position in InfuSystem in the 2nd quarter worth $33,000. Virtu Financial LLC bought a new position in InfuSystem during the 4th quarter worth about $90,000. LPL Financial LLC bought a new position in InfuSystem during the 4th quarter worth about $92,000. Finally, Jane Street Group LLC acquired a new stake in shares of InfuSystem in the 1st quarter valued at about $96,000. 71.13% of the stock is currently owned by institutional investors and hedge funds.

InfuSystem Company Profile

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.