Meros Investment Management LP Invests $3.19 Million in KORU Medical Systems, Inc. $KRMD

Meros Investment Management LP purchased a new stake in shares of KORU Medical Systems, Inc. (NASDAQ:KRMD) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 759,664 shares of the company’s stock, valued at approximately $3,190,589. Meros Investment Management LP owned 1.65% of KORU Medical Systems at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in KRMD. Simcoe Capital LLC purchased a new stake in shares of KORU Medical Systems in the 4th quarter valued at $3,921,000. GSA Capital Partners LLP acquired a new stake in shares of KORU Medical Systems during the 2nd quarter worth $124,000. Landscape Capital Management L.L.C. bought a new stake in shares of KORU Medical Systems in the 2nd quarter worth about $124,000. Bard Associates Inc. bought a new stake in shares of KORU Medical Systems during the 2nd quarter worth about $61,000. Finally, Royal Bank of Canada lifted its position in shares of KORU Medical Systems by 77.3% in the first quarter. Royal Bank of Canada now owns 235,804 shares of the company’s stock worth $1,019,000 after purchasing an additional 102,800 shares in the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

KORU Medical Systems Price Performance

Shares of NASDAQ KRMD traded up $0.06 during trading hours on Friday, hitting $3.26. 99,445 shares of the stock were exchanged, compared to its average volume of 175,966. The firm has a market capitalization of $149.73 million, a P/E ratio of -81.50 and a beta of 0.45. The company’s 50 day moving average is $3.92 and its 200 day moving average is $4.15. KORU Medical Systems, Inc. has a one year low of $3.14 and a one year high of $6.61.

KORU Medical Systems (NASDAQ:KRMD) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. KORU Medical Systems had a negative net margin of 4.03% and a negative return on equity of 10.63%. The firm had revenue of $12.05 million for the quarter, compared to analysts’ expectations of $11.62 million. Research analysts anticipate that KORU Medical Systems, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Activity at KORU Medical Systems

In related news, insider Adam R. Kalbermatten bought 12,500 shares of KORU Medical Systems stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $3.94 per share, with a total value of $49,250.00. Following the completion of the transaction, the insider owned 312,500 shares in the company, valued at $1,231,250. The trade was a 4.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings cut shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 19th. Wall Street Zen downgraded KORU Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $6.00 price objective on shares of KORU Medical Systems in a research note on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

About KORU Medical Systems

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.