Simcoe Capital LLC acquired a new position in KORU Medical Systems, Inc. (NASDAQ:KRMD – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 674,925 shares of the company’s stock, valued at approximately $3,921,000. KORU Medical Systems makes up about 3.7% of Simcoe Capital LLC’s investment portfolio, making the stock its 10th biggest position.
A number of other institutional investors have also made changes to their positions in KRMD. Cubist Systematic Strategies LLC lifted its position in shares of KORU Medical Systems by 927.4% in the first quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company’s stock worth $196,000 after purchasing an additional 69,758 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of KORU Medical Systems by 189.5% in the first quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company’s stock worth $617,000 after purchasing an additional 158,914 shares in the last quarter. Jane Street Group LLC lifted its position in shares of KORU Medical Systems by 136.7% in the first quarter. Jane Street Group LLC now owns 163,137 shares of the company’s stock worth $414,000 after purchasing an additional 94,214 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of KORU Medical Systems in the first quarter worth $63,000. Finally, Geode Capital Management LLC lifted 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 worth $3,571,000 after purchasing an additional 501,875 shares in the last quarter. Institutional investors own 58.60% of the company’s stock.
Wall Street Analyst Weigh In
KRMD has been the topic of a number of research reports. Wall Street Zen lowered shares of KORU Medical Systems from a “buy” rating to a “hold” rating in a research report on Saturday. Craig Hallum restated a “buy” rating and set a $7.00 target price on shares of KORU Medical Systems in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of KORU Medical Systems in a report on Tuesday, April 21st. Canaccord Genuity Group restated a “buy” rating and set a $6.00 target price on shares of KORU Medical Systems in a report on Friday, March 13th. Finally, B. Riley Financial upped their price objective on shares of KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, KORU Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.
KORU Medical Systems Price Performance
NASDAQ:KRMD opened at $4.00 on Wednesday. KORU Medical Systems, Inc. has a one year low of $2.63 and a one year high of $6.61. The company has a market cap of $183.72 million, a P/E ratio of -80.00 and a beta of 0.43. The firm’s fifty day moving average price is $4.29 and its two-hundred day moving average price is $4.85.
KORU Medical Systems (NASDAQ:KRMD – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). KORU Medical Systems had a negative net margin of 5.27% and a negative return on equity of 13.61%. The firm had revenue of $11.76 million for the quarter, compared to the consensus estimate of $11.28 million. As a group, equities research analysts expect that KORU Medical Systems, Inc. will post -0.03 earnings per share for the current year.
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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