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

First Light Asset Management LLC reduced its position in KORU Medical Systems, Inc. (NASDAQ:KRMD) by 10.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,387,902 shares of the company’s stock after selling 380,478 shares during the period. KORU Medical Systems accounts for about 0.9% of First Light Asset Management LLC’s holdings, making the stock its 29th biggest holding. First Light Asset Management LLC owned 0.07% of KORU Medical Systems worth $14,229,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its position in KORU Medical Systems by 927.4% during the first quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company’s stock worth $196,000 after buying an additional 69,758 shares during the period. Goldman Sachs Group Inc. boosted its holdings 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 valued at $617,000 after acquiring an additional 158,914 shares during the period. Jane Street Group LLC grew its position in shares of KORU Medical Systems by 136.7% during the first quarter. Jane Street Group LLC now owns 163,137 shares of the company’s stock worth $414,000 after acquiring an additional 94,214 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of KORU Medical Systems during the first quarter worth approximately $63,000. Finally, Geode Capital Management LLC grew its position in shares of KORU Medical Systems by 101.3% during the second quarter. Geode Capital Management LLC now owns 997,147 shares of the company’s stock worth $3,571,000 after acquiring an additional 501,875 shares during the last quarter. 58.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Adam Kalbermatten acquired 32,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average cost of $3.16 per share, for a total transaction of $101,120.00. Following the transaction, the insider directly owned 394,017 shares in the company, valued at approximately $1,245,093.72. This represents a 8.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 18.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on KRMD. Craig Hallum reiterated a “buy” rating and issued a $6.00 price target on shares of KORU Medical Systems in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 19th. Finally, 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.00.

KORU Medical Systems Trading Down 0.6%

KORU Medical Systems stock opened at $3.15 on Thursday. The stock has a 50 day moving average of $3.74 and a two-hundred day moving average of $4.06. KORU Medical Systems, Inc. has a twelve month low of $3.12 and a twelve month high of $6.61. The stock has a market capitalization of $144.68 million, a price-to-earnings ratio of -78.75 and a beta of 0.43.

KORU Medical Systems (NASDAQ:KRMD) last released its 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. KORU Medical Systems had a negative return on equity of 10.63% and a negative net margin of 4.03%.The business had revenue of $12.05 million for the quarter, compared to analyst estimates of $11.62 million. Equities analysts predict that KORU Medical Systems, Inc. will post -0.02 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.