First Light Asset Management LLC Lowers Position in KORU Medical Systems, Inc. $KRMD

First Light Asset Management LLC cut its holdings in KORU Medical Systems, Inc. (NASDAQ:KRMD) by 10.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,768,380 shares of the company’s stock after selling 442,132 shares during the quarter. KORU Medical Systems accounts for 1.5% of First Light Asset Management LLC’s portfolio, making the stock its 25th biggest holding. First Light Asset Management LLC owned 8.20% of KORU Medical Systems worth $16,279,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KRMD. BNP Paribas Financial Markets boosted its position in KORU Medical Systems by 52.1% during the third quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company’s stock worth $39,000 after purchasing an additional 3,478 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in KORU Medical Systems during the second quarter worth approximately $59,000. Arrowstreet Capital Limited Partnership acquired a new stake in KORU Medical Systems during the first quarter worth approximately $79,000. Occudo Quantitative Strategies LP acquired a new stake in KORU Medical Systems in the 4th quarter worth about $127,000. Finally, Invesco Ltd. acquired a new stake in KORU Medical Systems in the 2nd quarter worth about $80,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on KRMD. Weiss Ratings downgraded KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 15th. Wall Street Zen upgraded shares of KORU Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, KORU Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

KORU Medical Systems Stock Performance

Shares of KORU Medical Systems stock opened at $3.83 on Monday. The company has a fifty day moving average price of $4.12 and a 200 day moving average price of $4.48. KORU Medical Systems, Inc. has a twelve month low of $3.20 and a twelve month high of $6.61. The stock has a market cap of $175.91 million, a price-to-earnings ratio of -76.60 and a beta of 0.41.

Insider Activity at KORU Medical Systems

In related news, insider Adam R. Kalbermatten acquired 12,500 shares of KORU Medical Systems stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $3.94 per share, for a total transaction of $49,250.00. Following the completion of the purchase, the insider directly owned 312,500 shares in the company, valued at $1,231,250. This trade represents a 4.17% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought a total of 28,000 shares of company stock worth $109,430 in the last 90 days. Insiders own 18.50% of the company’s stock.

KORU Medical Systems 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.