KORU Medical Systems, Inc. (NASDAQ:KRMD – Free Report) – Stock analysts at B. Riley issued their Q3 2023 EPS estimates for shares of KORU Medical Systems in a research note issued on Wednesday, September 6th. B. Riley analyst N. Chatterji forecasts that the company will post earnings per share of ($0.05) for the quarter. B. Riley has a “Buy” rating and a $4.50 price target on the stock. The consensus estimate for KORU Medical Systems’ current full-year earnings is ($0.19) per share. B. Riley also issued estimates for KORU Medical Systems’ Q4 2023 earnings at ($0.05) EPS, FY2023 earnings at ($0.20) EPS and FY2024 earnings at ($0.17) EPS.
KORU Medical Systems (NASDAQ:KRMD – Get Free Report) last released its earnings results on Wednesday, August 9th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). KORU Medical Systems had a negative return on equity of 26.65% and a negative net margin of 27.55%. The business had revenue of $6.94 million for the quarter, compared to the consensus estimate of $6.93 million.
Read Our Latest Research Report on KRMD
KORU Medical Systems Trading Down 1.9 %
Shares of KRMD opened at $2.58 on Monday. The stock has a market cap of $117.75 million, a PE ratio of -15.18 and a beta of 0.37. KORU Medical Systems has a 52-week low of $2.13 and a 52-week high of $4.48. The firm’s fifty day moving average is $2.75 and its two-hundred day moving average is $3.52. The company has a quick ratio of 4.23, a current ratio of 5.53 and a debt-to-equity ratio of 0.01.
Institutional Trading of KORU Medical Systems
A number of institutional investors and hedge funds have recently bought and sold shares of KRMD. Citigroup Inc. purchased a new position in shares of KORU Medical Systems in the second quarter valued at approximately $36,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in KORU Medical Systems in the 1st quarter valued at approximately $47,000. California State Teachers Retirement System acquired a new position in shares of KORU Medical Systems in the second quarter worth $40,000. Tower Research Capital LLC TRC grew its stake in shares of KORU Medical Systems by 804.0% in the second quarter. Tower Research Capital LLC TRC now owns 11,779 shares of the company’s stock worth $41,000 after acquiring an additional 10,476 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of KORU Medical Systems during the first quarter worth $52,000. 40.35% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at KORU Medical Systems
In related news, Director Joseph M. Jr. Manko bought 10,000 shares of the stock in a transaction on Friday, August 18th. The stock was bought at an average price of $2.54 per share, with a total value of $25,400.00. Following the completion of the purchase, the director now directly owns 7,448,434 shares in the company, valued at approximately $18,919,022.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert Cascella acquired 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average price of $2.61 per share, for a total transaction of $49,590.00. Following the acquisition, the director now owns 41,478 shares of the company’s stock, valued at $108,257.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph M. Jr. Manko bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average cost of $2.54 per share, for a total transaction of $25,400.00. Following the purchase, the director now owns 7,448,434 shares in the company, valued at approximately $18,919,022.36. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 44,272 shares of company stock worth $114,828. Company insiders own 25.60% of the company’s stock.
KORU Medical Systems Company Profile
KORU Medical Systems, Inc designs, manufactures, and markets portable medical devices primarily for the subcutaneous drug delivery market in the United States and internationally. It offers mechanical infusion product comprising the FREEDOM infusion systems that include the FREEDOM60 syringe driver, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing.
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