Insider Buying: KORU Medical Systems (NASDAQ:KRMD) Insider Purchases 12,500 Shares of Stock

KORU Medical Systems, Inc. (NASDAQ:KRMD) insider Adam Kalbermatten acquired 12,500 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $3.94 per share, with a total value of $49,250.00. Following the acquisition, the insider owned 312,500 shares of the company’s stock, valued at approximately $1,231,250. This trade represents a 4.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

KORU Medical Systems Price Performance

Shares of KORU Medical Systems stock traded down $0.13 during trading on Monday, hitting $3.87. The stock had a trading volume of 112,849 shares, compared to its average volume of 161,794. The firm has a market cap of $177.75 million, a P/E ratio of -77.40 and a beta of 0.43. The business has a fifty day moving average of $4.10 and a two-hundred day moving average of $4.83. KORU Medical Systems, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $6.61.

KORU Medical Systems (NASDAQ:KRMD) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $10.90 million during the quarter, compared to analyst estimates of $10.90 million. KORU Medical Systems had a negative return on equity of 13.61% and a negative net margin of 5.27%. As a group, research analysts forecast that KORU Medical Systems, Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE raised its position in KORU Medical Systems by 36.0% during the first quarter. Bank of America Corp DE now owns 37,971 shares of the company’s stock valued at $164,000 after buying an additional 10,045 shares during the period. Royal Bank of Canada increased its holdings in shares of KORU Medical Systems by 77.3% during the 1st 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 during the last quarter. Vivaldi Capital Management LP boosted its stake in KORU Medical Systems by 51.6% during the 1st quarter. Vivaldi Capital Management LP now owns 29,885 shares of the company’s stock valued at $129,000 after purchasing an additional 10,172 shares during the period. Renaissance Technologies LLC bought a new stake in KORU Medical Systems during the 1st quarter valued at approximately $198,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in KORU Medical Systems during the 1st quarter valued at approximately $79,000. 58.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $6.00 target price on shares of KORU Medical Systems in a report on Friday, March 13th. Wall Street Zen downgraded KORU Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 29th. Finally, 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 report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

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.