Share Repurchase Program Declared by InfuSystem (NYSE:INFU)

InfuSystem (NYSE:INFU) announced that its Board of Directors has approved a share buyback plan on Tuesday, May 19th, RTT News reports. The company plans to buyback $20.00 million in shares. This buyback authorization allows the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

InfuSystem Stock Up 8.7%

Shares of NYSE INFU traded up $0.77 during trading on Tuesday, hitting $9.67. The stock had a trading volume of 446,325 shares, compared to its average volume of 147,162. InfuSystem has a 12 month low of $5.08 and a 12 month high of $11.04. 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 capitalization of $195.16 million, a PE ratio of 161.19 and a beta of 1.49. The firm has a fifty day moving average of $9.60 and a two-hundred day moving average of $9.15.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm restated a “buy” rating and set a $15.00 price target (up from $14.00) on shares of InfuSystem in a research note on Tuesday, February 24th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Insider Buying and Selling at InfuSystem

In other news, CFO Barry G. Steele bought 7,000 shares of InfuSystem stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $8.71 per share, for a total transaction of $60,970.00. Following the purchase, the chief financial officer directly owned 96,590 shares in the company, valued at $841,298.90. The trade was a 7.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Andrew Gendron bought 5,000 shares of InfuSystem stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $8.88 per share, with a total value of $44,400.00. Following the purchase, the director owned 70,000 shares in the company, valued at approximately $621,600. This represents a 7.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 17,064 shares of company stock valued at $150,396. Company insiders own 10.80% of the company’s stock.

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.