InfuSystem (NYSE:INFU) Shares Down 1.8% – What’s Next?

InfuSystem Holdings, Inc. (NYSE:INFU) traded down 1.8% on Wednesday . The stock traded as low as $12.03 and last traded at $12.24. Approximately 116,417 shares traded hands during trading, a decline of 32% from the average daily volume of 172,024 shares. The stock had previously closed at $12.46.

Wall Street Analyst Weigh In

Separately, B. Riley Financial reaffirmed a “buy” rating and issued a $20.00 price objective (up from $12.00) on shares of InfuSystem in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

InfuSystem Trading Down 1.8%

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.59 and a current ratio of 1.98. The stock’s fifty day moving average is $9.73 and its 200 day moving average is $9.34. The stock has a market cap of $247.03 million, a P/E ratio of 204.03 and a beta of 1.42.

InfuSystem announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 19th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On InfuSystem

Several institutional investors have recently modified their holdings of INFU. Quarry LP purchased a new position in shares of InfuSystem in the 4th quarter worth approximately $31,000. Raymond James Financial Inc. purchased a new stake in InfuSystem during the 2nd quarter valued at $33,000. Virtu Financial LLC bought a new stake in InfuSystem in the fourth quarter worth $90,000. LPL Financial LLC bought a new stake in InfuSystem in the fourth quarter worth $92,000. Finally, Boothbay Fund Management LLC purchased a new position in InfuSystem during the fourth quarter worth $98,000. 71.13% of the stock is owned by institutional investors.

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.