Key Points
- Insider buying: Adam Kalbermatten purchased 32,000 KORU Medical Systems shares for approximately $101,120, increasing his direct ownership by 8.84% to 394,017 shares.
- Stock performance and finances: KRMD opened at $3.15, near its 12-month low of $3.12, while its latest quarterly results exceeded expectations with $0.01 in adjusted EPS and $12.05 million in revenue. The company remains unprofitable, with a negative net margin of 4.03%.
- Analyst outlook: Despite mixed ratings—including recent downgrades—four analysts rate the stock a Buy and one rates it a Sell, resulting in a consensus “Moderate Buy” rating and a $7.00 price target.
KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report) insider Adam Kalbermatten bought 32,000 shares of KORU Medical Systems stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average price of $3.16 per share, with a total value of $101,120.00. Following the purchase, the insider directly owned 394,017 shares of the company's stock, valued at approximately $1,245,093.72. This represents a 8.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.
KORU Medical Systems Stock Down 0.6%
NASDAQ KRMD opened at $3.15 on Thursday. The firm has a market cap of $144.68 million, a P/E ratio of -78.75 and a beta of 0.43. The company's 50 day moving average is $3.74 and its 200-day moving average is $4.06. KORU Medical Systems, Inc. has a 12-month low of $3.12 and a 12-month high of $6.61.
KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.01 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. Equities analysts expect that KORU Medical Systems, Inc. will post -0.02 EPS for the current year.
Institutional Investors Weigh In On KORU Medical Systems
Hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC boosted its holdings in shares of KORU Medical Systems by 5.1% in the 2nd quarter. First Light Asset Management LLC now owns 4,681,626 shares of the company's stock worth $16,760,000 after purchasing an additional 226,700 shares in the last quarter. BlackRock Inc. purchased a new position in shares of KORU Medical Systems during the 2nd quarter valued at about $11,039,000. Vanguard Group Inc. raised its holdings in shares of KORU Medical Systems by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,145,772 shares of the company's stock valued at $8,218,000 after buying an additional 60,109 shares in the last quarter. Geode Capital Management LLC lifted its position in KORU Medical Systems by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,022,860 shares of the company's stock worth $5,944,000 after buying an additional 16,062 shares during the last quarter. Finally, Meros Investment Management LP bought a new stake in KORU Medical Systems in the 2nd quarter worth approximately $3,190,589. Institutional investors own 58.60% of the company's stock.
Analyst Upgrades and Downgrades
KRMD has been the subject of several recent analyst reports. Wall Street Zen cut shares of KORU Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Craig Hallum reiterated a "buy" rating and issued a $6.00 target price on shares of KORU Medical Systems in a research note on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of KORU Medical Systems from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, August 19th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.00.
Get Our Latest Research Report on KORU Medical Systems
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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