Share Buyback Plan Approved by InfuSystem (NYSE:INFU) Board of Directors

InfuSystem (NYSE:INFU) declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 19th, RTT News reports. The company plans to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Roth Mkm reissued a “buy” rating and issued a $15.00 price target (up from $14.00) on shares of InfuSystem in a report on Tuesday, February 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, InfuSystem has a consensus rating of “Moderate Buy” and an average target price of $15.00.

InfuSystem Stock Performance

Shares of NYSE INFU traded up $0.77 during mid-day trading on Tuesday, reaching $9.67. 446,325 shares of the company were exchanged, compared to its average volume of 147,162. InfuSystem has a twelve month low of $5.08 and a twelve month high of $11.04. The company has a quick ratio of 1.59, a current ratio of 1.98 and a debt-to-equity ratio of 0.50. The company’s 50-day simple moving average is $9.60 and its 200-day simple moving average is $9.15. The stock has a market capitalization of $195.16 million, a P/E ratio of 161.19 and a beta of 1.49.

Insider Activity

In other InfuSystem news, CFO Barry G. Steele bought 7,000 shares of InfuSystem stock in a transaction on Friday, May 8th. The shares were purchased at an average cost of $8.71 per share, with a total value 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. The trade was a 7.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Andrew Gendron bought 5,000 shares of InfuSystem stock in a transaction on Friday, May 8th. The shares were acquired at an average cost of $8.88 per share, for a total transaction of $44,400.00. Following the completion of the acquisition, the director directly owned 70,000 shares in the company, valued at approximately $621,600. The trade was a 7.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 17,064 shares of company stock worth $150,396. 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.