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

KORU Medical Systems, Inc. (NASDAQ:KRMD) insider Adam Kalbermatten purchased 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were acquired at an average price of $3.16 per share, with a total value of $101,120.00. Following the purchase, the insider owned 394,017 shares in the company, valued at $1,245,093.72. This trade represents a 8.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

KORU Medical Systems Stock Performance

Shares of KORU Medical Systems stock opened at $3.15 on Friday. KORU Medical Systems, Inc. has a 1 year low of $3.12 and a 1 year high of $6.61. The company has a market capitalization of $144.68 million, a P/E ratio of -78.75 and a beta of 0.43. The company’s fifty day moving average is $3.72 and its two-hundred day moving average is $4.05.

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 analysts’ consensus estimates 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 company had revenue of $12.05 million for the quarter, compared to analyst estimates of $11.62 million. As a group, equities analysts expect that KORU Medical Systems, Inc. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On KORU Medical Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its holdings in shares of KORU Medical Systems by 52.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company’s stock valued at $39,000 after purchasing an additional 3,478 shares in the last quarter. Barclays PLC boosted its holdings in KORU Medical Systems by 8.8% during the fourth quarter. Barclays PLC now owns 67,442 shares of the company’s stock worth $392,000 after buying an additional 5,457 shares in the last quarter. Invesco Ltd. boosted its holdings in KORU Medical Systems by 24.8% during the fourth quarter. Invesco Ltd. now owns 27,873 shares of the company’s stock worth $162,000 after buying an additional 5,546 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in KORU Medical Systems by 26.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,036 shares of the company’s stock worth $158,000 after buying an additional 5,649 shares in the last quarter. Finally, Algert Global LLC grew its position in KORU Medical Systems by 57.2% during the second quarter. Algert Global LLC now owns 22,737 shares of the company’s stock worth $95,000 after buying an additional 8,270 shares during the period. Institutional investors and hedge funds own 58.60% of the company’s stock.

Analyst Ratings Changes

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

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.