Key Points
- Insider buying: KORU Medical Systems insider Adam Kalbermatten bought 12,500 shares on June 11 at $3.94 each, spending $49,250. After the purchase, he held 312,500 shares worth about $1.23 million.
- Analyst sentiment remains positive overall: The stock has a consensus rating of Moderate Buy with an average price target of $7.25. Recent reports include price-target increases and buy ratings from B. Riley and Canaccord, though a few firms have downgraded the stock.
- Stock and ownership snapshot: KRMD last traded around $3.87, below its 50-day and 200-day moving averages, and sits near the lower end of its 52-week range of $2.91 to $6.61. Institutional investors own about 58.6% of the company.
KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report) insider Adam Kalbermatten acquired 12,500 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $3.94 per share, for a total transaction of $49,250.00. Following the acquisition, the insider directly owned 312,500 shares in the company, valued at $1,231,250. This represents a 4.17% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
KORU Medical Systems Stock Performance
Shares of KRMD stock opened at $3.87 on Tuesday. The stock's fifty day moving average is $4.09 and its two-hundred day moving average is $4.82. The firm has a market capitalization of $177.75 million, a P/E ratio of -77.40 and a beta of 0.43. KORU Medical Systems, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $6.61.
Wall Street Analyst Weigh In
Several research firms have recently commented on KRMD. B. Riley Financial lifted their price target on KORU Medical Systems from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, March 13th. Weiss Ratings lowered KORU Medical Systems from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, May 29th. Canaccord Genuity Group reiterated a "buy" rating and set a $6.00 price target on shares of KORU Medical Systems in a report on Friday, March 13th. Finally, Wall Street Zen lowered KORU Medical Systems from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.25.
Get Our Latest Stock Report on KRMD
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in shares of KORU Medical Systems by 52.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company's stock worth $39,000 after acquiring an additional 3,478 shares during the period. Lazard Asset Management LLC purchased a new position in shares of KORU Medical Systems during the 2nd quarter worth $59,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of KORU Medical Systems during the 1st quarter worth $79,000. Occudo Quantitative Strategies LP purchased a new stake in KORU Medical Systems in the 4th quarter valued at about $127,000. Finally, Invesco Ltd. purchased a new stake in KORU Medical Systems in the 2nd quarter valued at about $80,000. Hedge funds and other institutional investors own 58.60% of the company's stock.
KORU Medical Systems Company Profile
(
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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