Thomas Edward Adams Acquires 5,500 Shares of KORU Medical Systems (NASDAQ:KRMD) Stock

KORU Medical Systems, Inc. (NASDAQ:KRMD) CFO Thomas Edward Adams bought 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $3.86 per share, for a total transaction of $21,230.00. Following the completion of the transaction, the chief financial officer directly owned 308,147 shares of the company’s stock, valued at $1,189,447.42. This represents a 1.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

KORU Medical Systems Trading Down 1.8%

Shares of NASDAQ:KRMD traded down $0.07 during mid-day trading on Monday, reaching $3.83. The stock had a trading volume of 108,261 shares, compared to its average volume of 174,595. The company has a market cap of $175.91 million, a P/E ratio of -76.60 and a beta of 0.43. KORU Medical Systems, Inc. has a 1 year low of $2.63 and a 1 year high of $6.61. The business’s 50 day moving average price is $4.23 and its 200 day moving average price is $4.84.

KORU Medical Systems (NASDAQ:KRMD) last posted its earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $11.76 million for the quarter, compared to the consensus estimate of $11.28 million. KORU Medical Systems had a negative return on equity of 13.61% and a negative net margin of 5.27%. Analysts predict that KORU Medical Systems, Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. B. Riley Financial upped their price objective on KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of KORU Medical Systems in a research report on Tuesday, April 21st. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price objective on shares of KORU Medical Systems in a research report on Friday, March 13th. Finally, Wall Street Zen downgraded KORU Medical Systems from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, KORU Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

Institutional Investors Weigh In On KORU Medical Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC raised its position 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. Topline Capital Management LLC grew its stake in shares of KORU Medical Systems by 1.1% during the third quarter. Topline Capital Management LLC now owns 3,648,240 shares of the company’s stock valued at $13,973,000 after buying an additional 39,893 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of KORU Medical Systems by 2.9% during 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 last quarter. Geode Capital Management LLC grew its stake in shares of KORU Medical Systems by 1.6% during the fourth 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, Acuitas Investments LLC grew its stake in shares of KORU Medical Systems by 89.6% during the third quarter. Acuitas Investments LLC now owns 763,088 shares of the company’s stock valued at $2,923,000 after buying an additional 360,594 shares during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

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.