Infusystem (NYSEAMERICAN:INFU) announced that its Board of Directors has initiated a share repurchase program, which authorizes the company to buyback 1,000,000 outstanding shares on Tuesday, March 13th. This buyback authorization authorizes the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
NYSEAMERICAN:INFU traded up $0.05 during trading hours on Friday, hitting $2.85. 4,081 shares of the company’s stock traded hands, compared to its average volume of 24,121. Infusystem has a twelve month low of $1.20 and a twelve month high of $2.95.
Infusystem (NYSEAMERICAN:INFU) last posted its quarterly earnings results on Tuesday, March 13th. The medical instruments supplier reported ($0.03) earnings per share for the quarter. The business had revenue of $18.89 million for the quarter. Infusystem had a negative net margin of 0.73% and a negative return on equity of 1.06%.
In other news, Director Meridian Ohc Partners, Lp bought 20,000 shares of the stock in a transaction on Friday, March 16th. The shares were purchased at an average price of $2.40 per share, for a total transaction of $48,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
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InfuSystem Holdings Inc, through its subsidiaries, provides infusion pumps, and related products and services in the United States and Canada. It supplies electronic ambulatory infusion pumps and associated disposable supply kits to oncology clinics, infusion clinics, hospital outpatient, and chemotherapy clinics for the treatment of various cancers, including colorectal cancer, pain management, and other disease states.
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