BlackRock Inc. Takes Position in InfuSystem Holdings, Inc. $INFU

Key Points

• BlackRock acquired 1.59 million InfuSystem shares worth approximately $15.3 million, giving it a 7.86% stake. Institutional investors collectively own 71.13% of the company.
• Analyst sentiment is favorable: B. Riley raised its price target to $20 from $12, while the stock has a consensus “Moderate Buy” rating and an average target of $16.67.
• InfuSystem authorized a $20 million share repurchase program, allowing it to buy back up to 10.2% of outstanding shares; the stock recently traded at $12.18.

BlackRock Inc. bought a new position in shares of InfuSystem Holdings, Inc. (NYSE:INFU - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,585,415 shares of the company's stock, valued at approximately $15,299,000. BlackRock Inc. owned approximately 7.86% of InfuSystem at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of InfuSystem during the second quarter worth approximately $1,548,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in InfuSystem in the second quarter valued at $4,719,000. North Star Investment Management Corp. raised its holdings in InfuSystem by 527.6% in the first quarter. North Star Investment Management Corp. now owns 182,000 shares of the company's stock valued at $1,680,000 after acquiring an additional 153,000 shares in the last quarter. Sei Investments Co. boosted its stake in InfuSystem by 123.8% during the 1st quarter. Sei Investments Co. now owns 104,757 shares of the company's stock valued at $967,000 after acquiring an additional 57,948 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in InfuSystem during the 4th quarter valued at $901,000. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

InfuSystem Trading Up 0.3%

InfuSystem stock opened at $12.18 on Friday. The firm's 50-day moving average is $10.72 and its 200-day moving average is $9.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.59 and a current ratio of 1.98. InfuSystem Holdings, Inc. has a 1 year low of $7.29 and a 1 year high of $12.97. The company has a market cap of $245.82 million, a P/E ratio of 203.03 and a beta of 1.50.

InfuSystem announced that its board has authorized a share buyback plan on Tuesday, May 19th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 10.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

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.

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