Balyasny Asset Management L.P. Makes New $84,000 Investment in KORU Medical Systems, Inc. (NASDAQ:KRMD)

Balyasny Asset Management L.P. bought a new stake in shares of KORU Medical Systems, Inc. (NASDAQ:KRMD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 21,924 shares of the company’s stock, valued at approximately $84,000.

A number of other hedge funds also recently modified their holdings of KRMD. JPMorgan Chase & Co. grew its holdings in shares of KORU Medical Systems by 2,770.7% during the fourth quarter. JPMorgan Chase & Co. now owns 17,712 shares of the company’s stock valued at $68,000 after buying an additional 17,095 shares in the last quarter. Virtu Financial LLC acquired a new stake in KORU Medical Systems during the 4th quarter worth about $73,000. Y Intercept Hong Kong Ltd purchased a new position in KORU Medical Systems during the 4th quarter valued at about $104,000. Raymond James Financial Inc. purchased a new position in KORU Medical Systems during the 4th quarter valued at about $118,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of KORU Medical Systems in the 4th quarter valued at about $143,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Wall Street Analysts Forecast Growth

KRMD has been the subject of several research reports. Piper Sandler decreased their price target on shares of KORU Medical Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Thursday, May 8th. B. Riley raised shares of KORU Medical Systems to a “strong-buy” rating in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $4.50.

KORU Medical Systems Price Performance

Shares of KRMD opened at $2.95 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 2.99. The firm has a market cap of $136.12 million, a PE ratio of -11.80 and a beta of 0.39. KORU Medical Systems, Inc. has a twelve month low of $1.86 and a twelve month high of $5.05. The firm’s 50 day moving average price is $2.64 and its 200 day moving average price is $3.41.

KORU Medical Systems (NASDAQ:KRMD) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The business had revenue of $9.64 million for the quarter, compared to the consensus estimate of $8.86 million. KORU Medical Systems had a negative net margin of 37.42% and a negative return on equity of 24.60%. As a group, research analysts expect that KORU Medical Systems, Inc. will post -0.13 EPS for the current fiscal 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.