KORU Medical Systems, Inc. $KRMD Shares Sold by First Light Asset Management LLC

Key Points

• First Light Asset Management reduced its KORU Medical Systems stake by 10.1%, selling 380,478 shares and retaining 3.39 million shares, or 7.38% of the company. Institutional investors and hedge funds collectively own 58.6% of KRMD.
• Insider Adam Kalbermatten purchased 32,000 shares at an average price of $3.16, increasing his position by 8.84%. Corporate insiders own 18.5% of the company.
• KRMD recently exceeded quarterly expectations, reporting $0.01 in adjusted EPS versus a projected loss of $0.02 and revenue of $12.05 million. Shares opened at $3.15, near their 52-week low, while analysts maintain a “Moderate Buy” consensus with a $7.00 average price target.

First Light Asset Management LLC lowered its stake in shares of KORU Medical Systems, Inc. (NASDAQ:KRMD - Free Report) by 10.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,387,902 shares of the company's stock after selling 380,478 shares during the quarter. KORU Medical Systems accounts for about 0.9% of First Light Asset Management LLC's portfolio, making the stock its 29th largest position. First Light Asset Management LLC owned 7.38% of KORU Medical Systems worth $14,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of KRMD. BNP Paribas Financial Markets grew its stake in 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 purchasing an additional 3,478 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in KORU Medical Systems in the 2nd quarter valued at about $59,000. Bard Associates Inc. acquired a new stake in KORU Medical Systems in the 2nd quarter valued at about $61,000. Acadian Asset Management LLC purchased a new position in shares of KORU Medical Systems in the 1st quarter valued at about $63,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of KORU Medical Systems in the 1st quarter valued at about $79,000. 58.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at KORU Medical Systems

In related news, insider Adam Kalbermatten bought 32,000 shares of the stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average price of $3.16 per share, for a total transaction of $101,120.00. Following the acquisition, the insider owned 394,017 shares in the company, valued at approximately $1,245,093.72. This represents a 8.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.50% of the company's stock.

KORU Medical Systems Stock Performance

Shares of NASDAQ KRMD opened at $3.15 on Thursday. KORU Medical Systems, Inc. has a fifty-two week low of $3.12 and a fifty-two week high of $6.61. The firm has a market capitalization of $144.68 million, a PE ratio of -78.75 and a beta of 0.43. The stock's 50-day simple moving average is $3.74 and its 200-day simple moving average is $4.06.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KRMD shares. Wall Street Zen lowered shares of KORU Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of KORU Medical Systems from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, August 19th. Finally, Craig Hallum reiterated a "buy" rating and set a $6.00 price target 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 stock has an average rating of "Moderate Buy" and an average target price of $7.00.

KORU Medical Systems Company 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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