InfuSystem Holdings: Up after rise in Q3 rev on strength of cancer business

Infusystem Holdings

13/11/2020 17:16

** Shares of medical equipment supplier  INFU.A  rise 7.6%
to an over two-month high of $14.39
    ** INFU Q3 revenue jumps 17%, driven by continued market
penetration in oncology and a strong market demand for infusion
pumps
    ** Co raises its full-year 2020 rev forecast to $96-$97.0
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    ** Lake Street Capital Markets notes that the rise in rev
was primarily driven by strength of INFU's core cancer business
and not by sales related to COVID-19
    ** Expects the lack of meaningful competition to benefit
INFU for the next few quarters
    ** Says co's recently launched pain business, which was
disrupted due to COVID-19, will likely track the recovery of
postponable surgical procedures which is now underway
    ** Up to Thursday's close, stock up 56.7% YTD

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))