KORU Medical Systems (NASDAQ:KRMD) Insider Adam Kalbermatten Acquires 32,000 Shares of Stock

KORU Medical Systems, Inc. (NASDAQ:KRMD) insider Adam Kalbermatten bought 32,000 shares of the stock in a transaction dated Tuesday, September 8th. The stock was purchased at an average price of $3.16 per share, with a total value of $101,120.00. Following the acquisition, the insider owned 394,017 shares of the company’s stock, valued at $1,245,093.72. The trade was a 8.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

KORU Medical Systems Stock Performance

KORU Medical Systems stock opened at $3.15 on Thursday. KORU Medical Systems, Inc. has a fifty-two week low of $3.12 and a fifty-two week high of $6.61. The stock has a market cap of $144.68 million, a PE ratio of -78.75 and a beta of 0.43. The firm’s 50-day simple moving average is $3.74 and its 200 day simple moving average is $4.06.

KORU Medical Systems (NASDAQ:KRMD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. KORU Medical Systems had a negative net margin of 4.03% and a negative return on equity of 10.63%. The firm had revenue of $12.05 million during the quarter, compared to analyst estimates of $11.62 million. As a group, analysts predict that KORU Medical Systems, Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on KRMD. Craig Hallum reissued a “buy” rating and issued a $6.00 price objective on shares of KORU Medical Systems in a research report on Thursday, August 6th. Wall Street Zen cut KORU Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings downgraded shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 19th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, KORU Medical Systems currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Institutional Investors Weigh In On KORU Medical Systems

Hedge funds have recently modified their holdings of the stock. First Light Asset Management LLC grew its holdings in KORU Medical Systems by 5.1% during the second quarter. First Light Asset Management LLC now owns 4,681,626 shares of the company’s stock valued at $16,760,000 after purchasing an additional 226,700 shares during the period. BlackRock Inc. bought a new stake in shares of KORU Medical Systems in the second quarter valued at $11,039,000. Vanguard Group Inc. raised its stake in shares of KORU Medical Systems by 2.9% in the third quarter. Vanguard Group Inc. now owns 2,145,772 shares of the company’s stock valued at $8,218,000 after buying an additional 60,109 shares during the period. Geode Capital Management LLC lifted its position in shares of KORU Medical Systems by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,022,860 shares of the company’s stock valued at $5,944,000 after buying an additional 16,062 shares during the last quarter. Finally, Meros Investment Management LP purchased a new position in shares of KORU Medical Systems during the 2nd quarter valued at $3,190,589. Institutional investors own 58.60% of the company’s stock.

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.