First Light Asset Management LLC Reduces Holdings in KORU Medical Systems, Inc. $KRMD

Key Points

• First Light Asset Management LLC has reduced its holdings in KORU Medical Systems by 24.7% in Q1, now owning approximately 4.45 million shares, which represents 1.3% of its total holdings.
• According to analysts, KORU Medical Systems has a consensus rating of "Buy" and a reduced price target of $3.50 from Piper Sandler.
• KORU Medical Systems reported earnings of $0.01 EPS for the last quarter, beating estimates, and generated $10.20 million in revenue compared to expectations of $9.46 million.

First Light Asset Management LLC decreased its position in shares of KORU Medical Systems, Inc. (NASDAQ:KRMD - Free Report) by 24.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,454,926 shares of the company's stock after selling 1,460,508 shares during the quarter. KORU Medical Systems makes up about 1.3% of First Light Asset Management LLC's holdings, making the stock its 23rd largest position. First Light Asset Management LLC owned 9.66% of KORU Medical Systems worth $11,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Millennium Management LLC grew its holdings in shares of KORU Medical Systems by 4.5% during the fourth quarter. Millennium Management LLC now owns 283,710 shares of the company's stock worth $1,092,000 after buying an additional 12,187 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of KORU Medical Systems by 220.5% during the first quarter. Russell Investments Group Ltd. now owns 214,908 shares of the company's stock worth $546,000 after buying an additional 147,857 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of KORU Medical Systems during the first quarter worth about $239,000. Calamos Advisors LLC grew its holdings in shares of KORU Medical Systems by 36.5% during the first quarter. Calamos Advisors LLC now owns 88,718 shares of the company's stock worth $225,000 after buying an additional 23,729 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of KORU Medical Systems by 11.2% during the fourth quarter. Northern Trust Corp now owns 79,175 shares of the company's stock worth $305,000 after buying an additional 7,967 shares during the last quarter. Hedge funds and other institutional investors own 58.60% of the company's stock.

KORU Medical Systems Stock Performance

Shares of NASDAQ KRMD traded down $0.04 during midday trading on Friday, reaching $4.06. 94,461 shares of the company were exchanged, compared to its average volume of 92,412. The company has a current ratio of 2.91, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01. KORU Medical Systems, Inc. has a 1 year low of $1.86 and a 1 year high of $5.05. The stock has a fifty day simple moving average of $3.77 and a 200 day simple moving average of $3.20. The stock has a market cap of $187.73 million, a P/E ratio of -45.11 and a beta of 0.57.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.04. The firm had revenue of $10.20 million for the quarter, compared to analyst estimates of $9.46 million. KORU Medical Systems had a negative return on equity of 26.77% and a negative net margin of 12.24%. On average, research analysts forecast that KORU Medical Systems, Inc. will post -0.13 earnings per share for the current fiscal year.

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.