KORU Medical Systems (NASDAQ:KRMD) Insider Acquires 32,000 Shares

Key Points

• Insider buying: Adam Kalbermatten acquired 32,000 KORU Medical Systems shares at an average price of $3.16, increasing his ownership by 8.84% to 394,017 shares.
• Recent performance: KRMD shares traded near $3.15, close to their one-year low of $3.12 and well below their 50-day and 200-day moving averages. The company reported quarterly revenue of $12.05 million and EPS of $0.01, beating analyst estimates.
• Market outlook: Institutional investors own 58.6% of the stock, while analysts maintain a “Moderate Buy” consensus with an average price target of $7.00, despite some recent rating downgrades.

KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report) insider Adam Kalbermatten acquired 32,000 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was purchased at an average cost of $3.16 per share, with a total value of $101,120.00. Following the completion of the transaction, the insider owned 394,017 shares in the company, valued at $1,245,093.72. The trade was a 8.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

KORU Medical Systems Stock Performance

Shares of KORU Medical Systems stock traded down $0.02 on Wednesday, reaching $3.15. 180,419 shares of the company were exchanged, compared to its average volume of 176,421. The company's 50-day moving average is $3.77 and its two-hundred day moving average is $4.07. The firm has a market cap of $144.68 million, a price-to-earnings ratio of -78.75 and a beta of 0.43. KORU Medical Systems, Inc. has a 1-year low of $3.12 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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.03. KORU Medical Systems had a negative return on equity of 10.63% and a negative net margin of 4.03%.The firm had revenue of $12.05 million for the quarter, compared to analyst estimates of $11.62 million. As a group, sell-side analysts forecast that KORU Medical Systems, Inc. will post -0.02 earnings per share for the current year.

Institutional Trading of KORU Medical Systems

A number of institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC grew its holdings in shares of KORU Medical Systems by 927.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company's stock valued at $196,000 after acquiring an additional 69,758 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in KORU Medical Systems by 189.5% during the first quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company's stock worth $617,000 after acquiring an additional 158,914 shares in the last quarter. Jane Street Group LLC raised its stake in KORU Medical Systems by 136.7% in the first quarter. Jane Street Group LLC now owns 163,137 shares of the company's stock valued at $414,000 after buying an additional 94,214 shares during the period. Acadian Asset Management LLC bought a new position in shares of KORU Medical Systems in the first quarter valued at about $63,000. Finally, Geode Capital Management LLC grew its position in shares of KORU Medical Systems by 101.3% in the second quarter. Geode Capital Management LLC now owns 997,147 shares of the company's stock valued at $3,571,000 after purchasing an additional 501,875 shares during the last quarter. Institutional investors own 58.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on KRMD. Weiss Ratings downgraded KORU Medical Systems from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, August 19th. Craig Hallum reissued a "buy" rating and set a $6.00 price objective on shares of KORU Medical Systems in a report on Thursday, August 6th. Finally, Wall Street Zen cut shares of KORU Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. 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 currently 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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