Adam Kalbermatten Buys 12,500 Shares of KORU Medical Systems (NASDAQ:KRMD) Stock

KORU Medical Systems, Inc. (NASDAQ:KRMD) insider Adam Kalbermatten acquired 12,500 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $3.94 per share, with a total value of $49,250.00. Following the completion of the purchase, the insider owned 312,500 shares in the company, valued at $1,231,250. The trade was a 4.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

KORU Medical Systems Trading Down 3.3%

KRMD traded down $0.13 during trading on Monday, reaching $3.87. 112,849 shares of the company were exchanged, compared to its average volume of 161,794. The stock has a market cap of $177.75 million, a P/E ratio of -77.40 and a beta of 0.43. The firm has a 50 day moving average of $4.10 and a 200 day moving average of $4.83. KORU Medical Systems, Inc. has a 52 week low of $2.91 and a 52 week high of $6.61.

KORU Medical Systems (NASDAQ:KRMD) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $10.90 million during the quarter, compared to the consensus estimate of $10.90 million. KORU Medical Systems had a negative return on equity of 13.61% and a negative net margin of 5.27%. As a group, analysts forecast that KORU Medical Systems, Inc. will post -0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KRMD. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price objective on shares of KORU Medical Systems in a research note on Friday, March 13th. Weiss Ratings cut KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 29th. Wall Street Zen cut KORU Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, B. Riley Financial increased their price target on KORU Medical Systems from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, KORU Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $7.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC lifted its holdings in shares of KORU Medical Systems by 927.4% in the first quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company’s stock valued at $196,000 after buying an additional 69,758 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of KORU Medical Systems by 189.5% in the first quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company’s stock valued at $617,000 after buying an additional 158,914 shares during the period. Jane Street Group LLC lifted its holdings in shares of KORU Medical Systems by 136.7% in the first quarter. Jane Street Group LLC now owns 163,137 shares of the company’s stock valued at $414,000 after buying an additional 94,214 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of KORU Medical Systems in the first quarter valued at $63,000. Finally, Geode Capital Management LLC lifted its holdings in shares of KORU Medical Systems by 101.3% in the second quarter. Geode Capital Management LLC now owns 997,147 shares of the company’s stock valued at $3,571,000 after buying an additional 501,875 shares during the period. 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.