BlackRock Inc. Purchases New Position in KORU Medical Systems, Inc. $KRMD

BlackRock Inc. purchased a new stake in shares of KORU Medical Systems, Inc. (NASDAQ:KRMD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,628,352 shares of the company's stock, valued at approximately $11,039,000. BlackRock Inc. owned 5.72% of KORU Medical Systems as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets lifted 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 last quarter. Lazard Asset Management LLC purchased a new stake in KORU Medical Systems during the second quarter valued at about $59,000. Acadian Asset Management LLC purchased a new stake in KORU Medical Systems during the first quarter valued at about $63,000. Arrowstreet Capital Limited Partnership bought a new stake in KORU Medical Systems during the first quarter worth about $79,000. Finally, Invesco Ltd. bought a new stake in KORU Medical Systems during the second quarter worth about $80,000. Institutional investors own 58.60% of the company's stock.

Analyst Ratings Changes

KRMD has been the subject of several analyst reports. Weiss Ratings lowered shares of KORU Medical Systems from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, August 19th. Wall Street Zen cut KORU Medical Systems from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Craig Hallum restated a "buy" rating and issued a $6.00 target price on shares of KORU Medical Systems in a report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.00.

KORU Medical Systems Price Performance

Shares of KRMD stock opened at $3.25 on Friday. The firm has a fifty day moving average price of $3.81 and a 200-day moving average price of $4.10. The company has a market cap of $149.27 million, a price-to-earnings ratio of -81.25 and a beta of 0.43. KORU Medical Systems, Inc. has a 1 year low of $3.14 and a 1 year high of $6.61.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. The company had revenue of $12.05 million for the quarter, compared to analysts' expectations of $11.62 million. KORU Medical Systems had a negative net margin of 4.03% and a negative return on equity of 10.63%. Equities research analysts expect that KORU Medical Systems, Inc. will post -0.02 EPS for the current year.

Insider Activity at KORU Medical Systems

In related news, insider Adam Kalbermatten bought 12,500 shares of the company's stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $3.94 per share, with a total value of $49,250.00. Following the transaction, the insider owned 312,500 shares of the company's stock, valued at $1,231,250. The trade was a 4.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 18.50% of the company's stock.

KORU Medical Systems Profile

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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