Connor Clark & Lunn Investment Management Ltd. Purchases 7,046 Shares of KORU Medical Systems, Inc. $KRMD

Connor Clark & Lunn Investment Management Ltd. grew its stake in KORU Medical Systems, Inc. (NASDAQ:KRMD) by 11.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,917 shares of the company’s stock after purchasing an additional 7,046 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.15% of KORU Medical Systems worth $170,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Northern Trust Corp raised its position in shares of KORU Medical Systems by 11.2% in the fourth quarter. Northern Trust Corp now owns 79,175 shares of the company’s stock valued at $305,000 after purchasing an additional 7,967 shares during the period. Millennium Management LLC raised its position in shares of KORU Medical Systems by 4.5% in the fourth quarter. Millennium Management LLC now owns 283,710 shares of the company’s stock valued at $1,092,000 after purchasing an additional 12,187 shares during the period. JPMorgan Chase & Co. raised its position in shares of KORU Medical Systems by 2,770.7% in the fourth quarter. JPMorgan Chase & Co. now owns 17,712 shares of the company’s stock valued at $68,000 after purchasing an additional 17,095 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of KORU Medical Systems by 145.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 31,818 shares of the company’s stock valued at $122,000 after purchasing an additional 18,863 shares during the period. Finally, Vivaldi Capital Management LP bought a new position in shares of KORU Medical Systems in the fourth quarter valued at about $82,000. 58.60% of the stock is owned by institutional investors.

KORU Medical Systems Trading Up 0.7%

KRMD stock opened at $4.15 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.91. The company’s 50-day simple moving average is $3.57 and its 200 day simple moving average is $3.23. KORU Medical Systems, Inc. has a 52 week low of $1.86 and a 52 week high of $5.05. The company has a market capitalization of $191.90 million, a PE ratio of -46.11 and a beta of 0.47.

KORU Medical Systems (NASDAQ:KRMD) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.04. KORU Medical Systems had a negative net margin of 12.24% and a negative return on equity of 26.77%. The business had revenue of $10.20 million for the quarter, compared to the consensus estimate of $9.46 million. As a group, sell-side analysts anticipate that KORU Medical Systems, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price objective on shares of KORU Medical Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, KORU Medical Systems currently has an average rating of “Buy” and a consensus price target of $4.63.

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.