Point72 Asia Singapore Pte. Ltd. Takes Position in KORU Medical Systems, Inc. (NASDAQ:KRMD)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of KORU Medical Systems, Inc. (NASDAQ:KRMD) during the second quarter, Holdings Channel reports. The fund bought 40,441 shares of the company’s stock, valued at approximately $107,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in KORU Medical Systems during the second quarter worth $28,000. Aaron Wealth Advisors LLC acquired a new position in shares of KORU Medical Systems during the 2nd quarter worth about $28,000. Mesirow Financial Investment Management Inc. purchased a new position in KORU Medical Systems in the 1st quarter valued at about $26,000. Legato Capital Management LLC acquired a new stake in KORU Medical Systems in the 2nd quarter worth about $35,000. Finally, Advisor Resource Council purchased a new stake in KORU Medical Systems during the 1st quarter worth approximately $63,000. Institutional investors and hedge funds own 58.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on KRMD shares. B. Riley assumed coverage on KORU Medical Systems in a research note on Thursday, July 25th. They issued a “buy” rating and a $4.00 price target on the stock. Piper Sandler lifted their target price on shares of KORU Medical Systems from $2.50 to $3.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th.

KORU Medical Systems Stock Up 2.6 %

KRMD stock opened at $2.77 on Friday. The company has a market cap of $127.00 million, a price-to-earnings ratio of -9.89 and a beta of 0.42. The firm has a 50-day moving average of $2.44 and a two-hundred day moving average of $2.36. KORU Medical Systems, Inc. has a 12 month low of $1.98 and a 12 month high of $3.09. The company has a current ratio of 3.77, a quick ratio of 3.27 and a debt-to-equity ratio of 0.01.

KORU Medical Systems (NASDAQ:KRMD) last issued its earnings results on Wednesday, August 7th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. KORU Medical Systems had a negative net margin of 38.16% and a negative return on equity of 20.82%. The company had revenue of $8.43 million for the quarter, compared to the consensus estimate of $7.52 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. As a group, analysts forecast that KORU Medical Systems, Inc. will post -0.13 earnings per share for the current fiscal year.

KORU Medical Systems Company 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.