KORU Medical Systems (NASDAQ:KRMD) CFO Acquires $21,230.00 in 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 bought at an average cost of $3.86 per share, with a total value of $21,230.00. Following the acquisition, the chief financial officer directly owned 308,147 shares of the company’s stock, valued at $1,189,447.42. This trade represents a 1.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

KORU Medical Systems Stock Down 1.8%

NASDAQ:KRMD traded down $0.07 during mid-day trading on Monday, hitting $3.83. 108,261 shares of the company traded hands, compared to its average volume of 174,595. The stock’s fifty day moving average price is $4.23 and its 200-day moving average price is $4.84. KORU Medical Systems, Inc. has a one year low of $2.63 and a one year high of $6.61. The firm has a market cap of $175.91 million, a price-to-earnings ratio of -76.60 and a beta of 0.43.

KORU Medical Systems (NASDAQ:KRMD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (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 business had revenue of $11.76 million during the quarter, compared to analyst estimates of $11.28 million. Equities analysts predict that KORU Medical Systems, Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On KORU Medical Systems

Several large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of KORU Medical Systems by 77.3% in the first quarter. Royal Bank of Canada now owns 235,804 shares of the company’s stock valued at $1,019,000 after acquiring an additional 102,800 shares in the last quarter. Vivaldi Capital Management LP lifted its position in shares of KORU Medical Systems by 51.6% in the first quarter. Vivaldi Capital Management LP now owns 29,885 shares of the company’s stock worth $129,000 after buying an additional 10,172 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of KORU Medical Systems in the first quarter worth about $198,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of KORU Medical Systems in the first quarter worth about $79,000. Finally, Sei Investments Co. lifted its position in shares of KORU Medical Systems by 14.8% in the first quarter. Sei Investments Co. now owns 93,772 shares of the company’s stock worth $405,000 after buying an additional 12,062 shares in the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

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.