Topline Capital Management LLC Reduces Holdings in KORU Medical Systems, Inc. $KRMD

Key Points

• Topline Capital Management LLC decreased its holdings in KORU Medical Systems by 11.7%, reducing its shares to 3,821,230 after selling 505,934 shares in Q1.
• Analysts show mixed sentiment, with Piper Sandler lowering the price target on the stock from $4.50 to $3.50 while maintaining a "neutral" rating.
• KORU Medical Systems reported a profit of $0.01 per share for the last quarter, exceeding analyst expectations by $0.04, with revenues of $10.20 million.

Topline Capital Management LLC lessened its position in shares of KORU Medical Systems, Inc. (NASDAQ:KRMD - Free Report) by 11.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,821,230 shares of the company's stock after selling 505,934 shares during the period. KORU Medical Systems accounts for 2.2% of Topline Capital Management LLC's investment portfolio, making the stock its 12th largest position. Topline Capital Management LLC owned about 8.28% of KORU Medical Systems worth $9,706,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KRMD. Northern Trust Corp lifted its holdings in KORU Medical Systems by 11.2% during the 4th quarter. Northern Trust Corp now owns 79,175 shares of the company's stock worth $305,000 after purchasing an additional 7,967 shares in the last quarter. Millennium Management LLC lifted its holdings in KORU Medical Systems by 4.5% during the 4th quarter. Millennium Management LLC now owns 283,710 shares of the company's stock worth $1,092,000 after purchasing an additional 12,187 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in KORU Medical Systems during the 4th quarter worth about $118,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in KORU Medical Systems by 11.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,917 shares of the company's stock worth $170,000 after purchasing an additional 7,046 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in KORU Medical Systems by 67.0% during the 4th quarter. Jane Street Group LLC now owns 68,923 shares of the company's stock worth $265,000 after purchasing an additional 27,664 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price objective on KORU Medical Systems from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, KORU Medical Systems currently has an average rating of "Buy" and a consensus price target of $4.63.

KORU Medical Systems Price Performance

Shares of NASDAQ KRMD opened at $4.25 on Thursday. The firm has a market capitalization of $196.52 million, a P/E ratio of -47.22 and a beta of 0.47. The company has a quick ratio of 2.25, a current ratio of 2.91 and a debt-to-equity ratio of 0.01. The stock's 50-day simple moving average is $3.67 and its two-hundred day simple moving average is $3.22. KORU Medical Systems, Inc. has a twelve month low of $1.86 and a twelve month high of $5.05.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.04. The business 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%. As a group, equities analysts anticipate that KORU Medical Systems, Inc. will post -0.13 EPS for the current fiscal year.

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.

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