Meros Investment Management LP Buys New Shares in KORU Medical Systems, Inc. $KRMD

Meros Investment Management LP purchased a new stake in KORU Medical Systems, Inc. (NASDAQ:KRMD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 759,664 shares of the company’s stock, valued at approximately $3,190,589,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of KRMD. Simcoe Capital LLC acquired a new position in shares of KORU Medical Systems during the fourth quarter valued at about $3,921,000. Bank of America Corp DE grew its position in KORU Medical Systems by 36.0% during the first quarter. Bank of America Corp DE now owns 37,971 shares of the company’s stock worth $164,000 after buying an additional 10,045 shares in the last quarter. Deutsche Bank AG acquired a new stake in KORU Medical Systems during the second quarter worth about $183,000. BlackRock Inc. bought a new position in KORU Medical Systems during the second quarter valued at about $11,039,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in KORU Medical Systems during the second quarter valued at about $642,000. 58.60% of the stock is currently owned by institutional investors and hedge funds.

KORU Medical Systems Stock Down 0.3%

NASDAQ:KRMD opened at $3.21 on Wednesday. The firm has a market capitalization of $147.44 million, a PE ratio of -80.25 and a beta of 0.45. KORU Medical Systems, Inc. has a 12-month low of $3.14 and a 12-month high of $6.61. The firm has a 50-day moving average price of $3.94 and a 200 day moving average price of $4.17.

KORU Medical Systems (NASDAQ:KRMD) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $12.05 million for the quarter, compared to the consensus estimate of $11.62 million. KORU Medical Systems had a negative return on equity of 10.63% and a negative net margin of 4.03%. On average, research analysts expect that KORU Medical Systems, Inc. will post -0.03 EPS for the current year.

Insider Buying and Selling

In related news, insider Adam R. Kalbermatten purchased 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $3.94 per share, with a total value of $49,250.00. Following the purchase, the insider directly owned 312,500 shares in the company, valued at $1,231,250. This represents a 4.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 18.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KRMD has been the subject of several recent research reports. Wall Street Zen cut KORU Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings cut KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 19th. Finally, Craig Hallum restated a “buy” rating and issued a $6.00 target price on shares of KORU Medical Systems in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, KORU Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

About KORU Medical Systems

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria. Its products include the FREEDOM60 syringe infusion system, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing products.