Northland Securities Initiates Coverage on InfuSystem (NYSEAMERICAN:INFU)


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Research analysts at Northland Securities initiated coverage on shares of InfuSystem (NYSEAMERICAN:INFU) in a research report issued on Monday, Benzinga reports. The firm set an “outperform” rating and a $27.00 price target on the medical instruments supplier’s stock. Northland Securities’ price objective points to a potential upside of 23.63% from the company’s current price.

Shares of InfuSystem stock opened at $21.84 on Monday. The firm’s 50-day simple moving average is $17.08. The company has a quick ratio of 0.89, a current ratio of 1.09 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $444.62 million, a P/E ratio of 62.40 and a beta of 0.92. InfuSystem has a 1-year low of $10.05 and a 1-year high of $23.26.

InfuSystem (NYSEAMERICAN:INFU) last announced its earnings results on Tuesday, March 16th. The medical instruments supplier reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.43. The company had revenue of $24.71 million during the quarter. InfuSystem had a return on equity of 29.88% and a net margin of 7.91%.

In other InfuSystem news, Director Paul Andrew Gendron bought 3,000 shares of the business’s stock in a transaction on Thursday, March 25th. The shares were purchased at an average price of $20.34 per share, with a total value of $61,020.00. Following the completion of the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $508,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregg Owen Lehman sold 9,708 shares of the firm’s stock in a transaction dated Tuesday, March 23rd. The stock was sold at an average price of $21.20, for a total transaction of $205,809.60. Following the completion of the transaction, the director now directly owns 21,525 shares in the company, valued at approximately $456,330. The disclosure for this sale can be found here. Company insiders own 32.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in shares of InfuSystem during the first quarter valued at approximately $245,000. Meeder Asset Management Inc. acquired a new position in shares of InfuSystem during the first quarter valued at approximately $38,000. CWM LLC acquired a new position in shares of InfuSystem during the first quarter valued at approximately $68,000. Calamos Advisors LLC acquired a new position in shares of InfuSystem during the first quarter valued at approximately $1,776,000. Finally, JPMorgan Chase & Co. increased its stake in shares of InfuSystem by 355.6% during the fourth quarter. JPMorgan Chase & Co. now owns 37,682 shares of the medical instruments supplier’s stock valued at $708,000 after acquiring an additional 29,412 shares during the period. 58.67% of the stock is currently owned by institutional investors.

About InfuSystem

InfuSystem Holdings, Inc, through its subsidiaries, provides infusion pumps, and related products and services in the United States and Canada. The company operates through two segments, Integrated Therapy Services (ITS) and Durable Medical Equipment (DME) Services. It supplies electronic ambulatory infusion pumps and associated disposable supply kits to oncology clinics, infusion clinics, and hospital outpatient chemotherapy clinics for the treatment of various cancers, including colorectal cancer, pain management, and other disease states.

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