Bank of New York Mellon Corp Makes New Investment in InfuSystem Holdings, Inc. $INFU

Key Points

• Bank of New York Mellon acquired 103,136 InfuSystem shares in the second quarter, worth approximately $995,000 and representing about 0.51% of the company. Institutional investors collectively own 71.13% of INFU.
• Analyst sentiment remains favorable: B. Riley reaffirmed a “Buy” rating and raised its price target to $20, while the consensus rating is “Moderate Buy” with a $16.67 target.
• InfuSystem shares opened at $12.12, near their 52-week high, while the company has authorized a $20 million stock buyback covering up to 10.2% of outstanding shares.

Bank of New York Mellon Corp acquired a new position in InfuSystem Holdings, Inc. (NYSE:INFU - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 103,136 shares of the company's stock, valued at approximately $995,000. Bank of New York Mellon Corp owned about 0.51% of InfuSystem as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new position in shares of InfuSystem during the fourth quarter valued at approximately $31,000. Raymond James Financial Inc. bought a new stake in InfuSystem in the second quarter valued at $33,000. Virtu Financial LLC bought a new stake in InfuSystem in the fourth quarter valued at $90,000. LPL Financial LLC purchased a new position in InfuSystem during the 4th quarter valued at $92,000. Finally, Boothbay Fund Management LLC bought a new position in InfuSystem in the 4th quarter worth $98,000. 71.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

InfuSystem Trading Down 0.7%

NYSE:INFU opened at $12.12 on Friday. InfuSystem Holdings, Inc. has a 52 week low of $7.29 and a 52 week high of $12.97. The company's 50 day moving average price is $10.94 and its 200-day moving average price is $9.96. 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 stock has a market cap of $244.61 million, a price-to-earnings ratio of 202.03 and a beta of 1.50.

InfuSystem announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 19th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

InfuSystem 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.

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