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

KORU Medical Systems, Inc. (NASDAQ:KRMD) CFO Thomas Edward Adams purchased 5,500 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $3.86 per share, for a total transaction of $21,230.00. Following the transaction, the chief financial officer directly owned 308,147 shares of the company’s stock, valued at approximately $1,189,447.42. The trade was a 1.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

KORU Medical Systems Stock Performance

KRMD stock opened at $3.96 on Wednesday. The stock’s 50 day simple moving average is $4.21 and its 200 day simple moving average is $4.84. KORU Medical Systems, Inc. has a fifty-two week low of $2.63 and a fifty-two week high of $6.61. The company has a market cap of $181.88 million, a P/E ratio of -79.20 and a beta of 0.43.

KORU Medical Systems (NASDAQ:KRMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). KORU Medical Systems had a negative return on equity of 13.61% and a negative net margin of 5.27%.The business had revenue of $11.76 million for the quarter, compared to the consensus estimate of $11.28 million. Equities analysts predict that KORU Medical Systems, Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KRMD. Cubist Systematic Strategies LLC boosted its holdings in KORU Medical Systems by 927.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company’s stock valued at $196,000 after purchasing an additional 69,758 shares during the period. Goldman Sachs Group Inc. boosted its holdings in KORU Medical Systems by 189.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company’s stock valued at $617,000 after purchasing an additional 158,914 shares during the period. Jane Street Group LLC boosted its holdings in KORU Medical Systems by 136.7% in the 1st quarter. Jane Street Group LLC now owns 163,137 shares of the company’s stock valued at $414,000 after purchasing an additional 94,214 shares during the period. Acadian Asset Management LLC bought a new stake in shares of KORU Medical Systems during the 1st quarter worth $63,000. Finally, Geode Capital Management LLC lifted its holdings in shares of KORU Medical Systems by 101.3% during the 2nd 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.

Wall Street Analysts Forecast Growth

KRMD has been the subject of several research analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price target on shares of KORU Medical Systems in a research note on Friday, March 13th. Wall Street Zen lowered shares of KORU Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. B. Riley Financial raised their price target on shares of KORU Medical Systems from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of KORU Medical Systems in a research note 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 data from MarketBeat.com, KORU Medical Systems presently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

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.