Insider Buying: KORU Medical Systems (NASDAQ:KRMD) CFO Buys $21,230.00 in Stock

KORU Medical Systems, Inc. (NASDAQ:KRMDGet Free Report) CFO Thomas Edward Adams acquired 5,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $3.86 per share, with a total value of $21,230.00. Following the purchase, the chief financial officer owned 308,147 shares in the company, valued at approximately $1,189,447.42. The trade was a 1.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

KORU Medical Systems Price Performance

NASDAQ KRMD opened at $4.00 on Thursday. KORU Medical Systems, Inc. has a 12 month low of $2.63 and a 12 month high of $6.61. The company has a 50-day moving average of $4.19 and a 200-day moving average of $4.84. The company has a market cap of $183.72 million, a P/E ratio of -80.00 and a beta of 0.43.

KORU Medical Systems (NASDAQ:KRMDGet Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). KORU Medical Systems had a negative net margin of 5.27% and a negative return on equity of 13.61%. The company had revenue of $11.76 million during the quarter, compared to the consensus estimate of $11.28 million. As a group, equities research analysts anticipate that KORU Medical Systems, Inc. will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in KORU Medical Systems by 36.0% during the first quarter. Bank of America Corp DE now owns 37,971 shares of the company’s stock worth $164,000 after acquiring an additional 10,045 shares during the period. Royal Bank of Canada boosted its position in shares of KORU Medical Systems by 77.3% in the 1st quarter. Royal Bank of Canada now owns 235,804 shares of the company’s stock valued at $1,019,000 after purchasing an additional 102,800 shares during the period. Vivaldi Capital Management LP boosted its position in shares of KORU Medical Systems by 51.6% in the 1st quarter. Vivaldi Capital Management LP now owns 29,885 shares of the company’s stock valued at $129,000 after purchasing an additional 10,172 shares during the period. Renaissance Technologies LLC acquired a new stake in KORU Medical Systems during the 1st quarter worth about $198,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in KORU Medical Systems during the 1st quarter worth about $79,000. 58.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KRMD has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of KORU Medical Systems from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. B. Riley Financial increased their target price on KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price objective on shares of KORU Medical Systems in a research note on Friday, March 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of KORU Medical Systems in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.25.

Get Our Latest Analysis on KRMD

KORU Medical Systems Company Profile

(Get Free Report)

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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