Insider Buying: KORU Medical Systems (NASDAQ:KRMD) Insider Purchases $101,120.00 in Stock

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

KORU Medical Systems Stock Performance

KRMD stock opened at $3.16 on Friday. The stock has a fifty day moving average of $3.69 and a 200-day moving average of $4.04. KORU Medical Systems, Inc. has a fifty-two week low of $3.12 and a fifty-two week high of $6.61. The company has a market capitalization of $145.14 million, a price-to-earnings ratio of -79.00 and a beta of 0.43.

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

Wall Street Analysts Forecast Growth

KRMD has been the topic of a number of recent research reports. Wall Street Zen cut shares of KORU Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Craig Hallum reissued a “buy” rating and set a $6.00 target price on shares of KORU Medical Systems in a report on Thursday, August 6th. Finally, Weiss Ratings cut 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 assigned 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 price target of $7.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC increased its position in shares of KORU Medical Systems by 858.0% during the second quarter. Squarepoint Ops LLC now owns 124,755 shares of the company’s stock valued at $524,000 after buying an additional 111,733 shares during the period. Bank of America Corp DE bought a new position in shares of KORU Medical Systems in the second quarter valued at approximately $124,000. Meros Investment Management LP bought a new position in shares of KORU Medical Systems in the second quarter valued at approximately $3,190,589. Algert Global LLC grew its stake in KORU Medical Systems by 57.2% during the second quarter. Algert Global LLC now owns 22,737 shares of the company’s stock valued at $95,000 after acquiring an additional 8,270 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in KORU Medical Systems during the second quarter valued at approximately $642,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

KORU Medical Systems Company Profile

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.