Key Points
- COO Christopher Pazdan bought 5,000 shares of KORU Medical Systems at $3.88 each, a $19,400 transaction that lifted his holdings to 305,131 shares.
- The stock was down 1.8% on Tuesday, trading at $3.83, and remains well below its 52-week high of $6.61.
- KORU recently reported Q1 EPS of -$0.02, matching expectations, while revenue came in above estimates at $11.76 million; analysts currently have a Moderate Buy consensus with a $7.25 average price target.
KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report) COO Christopher Pazdan purchased 5,000 shares of KORU Medical Systems stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $3.88 per share, with a total value of $19,400.00. Following the completion of the transaction, the chief operating officer owned 305,131 shares in the company, valued at approximately $1,183,908.28. This represents a 1.67% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
KORU Medical Systems Trading Down 1.8%
KRMD opened at $3.83 on Tuesday. 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, Inc. has a 12 month low of $2.63 and a 12 month high of $6.61. The stock has a fifty day moving average price of $4.22 and a 200-day moving average price of $4.84.
KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last announced its 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 company had revenue of $11.76 million for the quarter, compared to analyst estimates of $11.28 million. On average, equities research analysts forecast that KORU Medical Systems, Inc. will post -0.03 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on KRMD. Canaccord Genuity Group reaffirmed a "buy" rating and set a $6.00 target price on shares of KORU Medical Systems in a research report on Friday, March 13th. Wall Street Zen lowered KORU Medical Systems from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. B. Riley Financial upped their target price on KORU Medical Systems from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of KORU Medical Systems in a research report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $7.25.
Read Our Latest Stock Analysis on KRMD
Institutional Trading of KORU Medical Systems
A number of hedge funds have recently modified their holdings of KRMD. BNP Paribas Financial Markets boosted its stake in shares of KORU Medical Systems by 52.1% in the third quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company's stock worth $39,000 after buying an additional 3,478 shares during the last quarter. Lazard Asset Management LLC purchased a new position in KORU Medical Systems during the second quarter worth approximately $59,000. Acadian Asset Management LLC purchased a new position in KORU Medical Systems during the first quarter worth approximately $63,000. Arrowstreet Capital Limited Partnership purchased a new position in KORU Medical Systems during the first quarter worth approximately $79,000. Finally, Invesco Ltd. purchased a new position in KORU Medical Systems during the second quarter worth approximately $80,000. Hedge funds and other institutional investors own 58.60% of the company's stock.
About KORU Medical Systems
(
Get Free Report)
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.
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