Heartland Advisors Inc. Buys New Position in InfuSystem Holdings, Inc. $INFU

Heartland Advisors Inc. bought a new stake in InfuSystem Holdings, Inc. (NYSE:INFU) during the second quarter, Holdings Channel.com reports. The fund bought 700,000 shares of the company’s stock, valued at approximately $6,755,000.

Several other institutional investors also recently added to or reduced their stakes in the business. CM Wealth Advisors LLC acquired a new position in shares of InfuSystem during the second quarter worth approximately $625,000. BlackRock Inc. acquired a new stake in shares of InfuSystem in the second quarter worth $15,299,000. Deutsche Bank AG bought a new position in InfuSystem during the second quarter worth $185,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in InfuSystem during the second quarter worth $4,719,000. Finally, Bank of New York Mellon Corp acquired a new position in InfuSystem during the 2nd quarter valued at $995,000. 71.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley Financial reissued a “buy” rating and issued a $20.00 price target (up from $12.00) on shares of InfuSystem in a report 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.67.

InfuSystem Stock Up 0.1%

INFU stock opened at $12.21 on Friday. InfuSystem Holdings, Inc. has a twelve month low of $7.29 and a twelve month high of $12.97. 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 has a market cap of $246.42 million, a PE ratio of 203.53 and a beta of 1.42. The business’s 50-day simple moving average is $10.17 and its 200 day simple moving average is $9.52.

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

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.