First Light Asset Management LLC Decreases Stake in KORU Medical Systems, Inc. (NASDAQ:KRMD)

First Light Asset Management LLC lessened its stake in KORU Medical Systems, Inc. (NASDAQ:KRMD) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,038,387 shares of the company’s stock after selling 182,603 shares during the quarter. First Light Asset Management LLC owned about 10.99% of KORU Medical Systems worth $13,352,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Bard Associates Inc. grew its stake in shares of KORU Medical Systems by 22.5% in the 4th quarter. Bard Associates Inc. now owns 26,710 shares of the company’s stock valued at $66,000 after buying an additional 4,910 shares during the period. Advisor Resource Council acquired a new stake in KORU Medical Systems during the first quarter worth $63,000. Mesirow Financial Investment Management Inc. acquired a new stake in KORU Medical Systems during the first quarter worth $26,000. Vanguard Group Inc. raised its position in KORU Medical Systems by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,961,764 shares of the company’s stock valued at $4,630,000 after purchasing an additional 51,890 shares during the period. Finally, Archon Capital Management LLC lifted its stake in shares of KORU Medical Systems by 6.2% in the 1st quarter. Archon Capital Management LLC now owns 3,951,393 shares of the company’s stock valued at $9,325,000 after purchasing an additional 230,517 shares during the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on KRMD shares. Piper Sandler boosted their price objective on shares of KORU Medical Systems from $2.50 to $3.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. B. Riley began coverage on shares of 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.

KORU Medical Systems Price Performance

KRMD opened at $2.68 on Tuesday. The stock’s 50-day moving average price is $2.44 and its 200 day moving average price is $2.34. KORU Medical Systems, Inc. has a 12-month low of $1.98 and a 12-month high of $3.09. The firm has a market cap of $122.65 million, a price-to-earnings ratio of -9.57 and a beta of 0.42. 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 announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $8.43 million during the quarter, compared to analysts’ expectations of $7.52 million. KORU Medical Systems had a negative net margin of 38.16% and a negative return on equity of 20.82%. During the same quarter in the previous year, the business posted ($0.05) earnings per share. As a group, sell-side analysts expect that KORU Medical Systems, Inc. will post -0.13 earnings per share for the current year.

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.