Insider Buying: KORU Medical Systems (NASDAQ:KRMD) COO Purchases 5,000 Shares of Stock

KORU Medical Systems, Inc. (NASDAQ:KRMD) COO Christopher Pazdan bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $3.88 per share, for a total transaction of $19,400.00. Following the completion of the acquisition, the chief operating officer owned 305,131 shares of the company’s stock, valued at $1,183,908.28. This trade represents a 1.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

KORU Medical Systems Stock Performance

KORU Medical Systems stock traded down $0.07 during midday trading on Monday, hitting $3.83. 108,361 shares of the company were exchanged, compared to its average volume of 174,595. KORU Medical Systems, Inc. has a fifty-two week low of $2.63 and a fifty-two week high of $6.61. The business has a fifty day simple moving average of $4.23 and a two-hundred day simple moving average of $4.84. The firm has a market capitalization of $175.91 million, a PE ratio of -76.60 and a beta of 0.43.

KORU Medical Systems (NASDAQ:KRMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). KORU Medical Systems had a negative return on equity of 13.61% and a negative net margin of 5.27%.The company had revenue of $11.76 million for the quarter, compared to analyst estimates of $11.28 million. As a group, equities analysts expect that KORU Medical Systems, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $6.00 price objective on shares of KORU Medical Systems in a report on Friday, March 13th. B. Riley Financial raised their price objective on KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. Wall Street Zen lowered KORU Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of KORU Medical Systems in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Institutional Trading of KORU Medical Systems

A number of institutional investors have recently made changes to their positions in KRMD. Cubist Systematic Strategies LLC boosted its stake 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 worth $196,000 after acquiring an additional 69,758 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake 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 worth $617,000 after acquiring an additional 158,914 shares during the last quarter. Jane Street Group LLC boosted its stake 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 worth $414,000 after acquiring an additional 94,214 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of KORU Medical Systems in the first quarter worth approximately $63,000. Finally, Geode Capital Management LLC boosted its stake 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 worth $3,571,000 after acquiring an additional 501,875 shares during the last quarter. 58.60% of the stock is owned by institutional investors and hedge funds.

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.