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 dated Tuesday, September 8th. The stock was acquired at an average price of $3.16 per share, for a total transaction of $101,120.00. Following the purchase, the insider owned 394,017 shares in the company, valued at approximately $1,245,093.72. The trade was a 8.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

KORU Medical Systems Price Performance

KRMD stock traded down $0.02 during trading on Wednesday, reaching $3.15. 180,419 shares of the company were exchanged, compared to its average volume of 176,421. KORU Medical Systems, Inc. has a twelve month low of $3.12 and a twelve month high of $6.61. The company has a market capitalization of $144.68 million, a price-to-earnings ratio of -78.75 and a beta of 0.43. The company has a 50-day moving average of $3.77 and a two-hundred day moving average of $4.07.

KORU Medical Systems (NASDAQ:KRMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.62 million. On average, analysts forecast that KORU Medical Systems, Inc. will post -0.02 EPS for the current year.

Institutional Trading of KORU Medical Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC boosted its holdings in shares of KORU Medical Systems by 927.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company’s stock worth $196,000 after buying an additional 69,758 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in KORU Medical Systems by 189.5% in the first quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company’s stock valued at $617,000 after acquiring an additional 158,914 shares during the last quarter. Jane Street Group LLC grew its holdings in KORU Medical Systems by 136.7% during the first 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 purchased a new stake in KORU Medical Systems in the first quarter worth $63,000. Finally, Geode Capital Management LLC boosted its position in KORU Medical Systems by 101.3% during the second quarter. Geode Capital Management LLC now owns 997,147 shares of the company’s stock worth $3,571,000 after purchasing an additional 501,875 shares during the period. 58.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KRMD has been the subject of several analyst reports. Weiss Ratings lowered shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 19th. Craig Hallum reiterated a “buy” rating and set a $6.00 price objective on shares of KORU Medical Systems in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded KORU Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

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.