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Strength Seen in InfuSystems Holdings, Inc. (INFU): Can Its 14.2% Jump Turn into More Strength?

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InfuSystems Holdings, Inc. (INFU) shares ended the last trading session 14.2% higher at $20.79. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.1% loss over the past four weeks.

InfuSystems Holdings witnessed a solid price appreciation following the announcement of the approval by the company’s Board of Directors with respect to a share repurchase program, which will authorize InfuSystems Holdings to repurchase up to $20 million of its outstanding common stock through Jun 30, 2024. Market is also optimistic about the InfuSystems Holdings’ joint agreement with Bio Compression Systems, Inc., which will enable the former to add Lymphedema Therapy to its Integrated Therapy Service (“ITS”) platform.

This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -42.1%. Revenues are expected to be $27.5 million, up 5.8% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For InfuSystems Holdings, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on INFU going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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