KORU Medical Systems (KRMD)
Builds mechanical infusion systems for at-home subcutaneous biologic delivery.
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Sells FREEDOM syringe drivers, tubing, and needle sets for subcutaneous drug delivery, primarily immunoglobulin therapies. Revenue comes from domestic and international product sales plus biopharma feasibility and clinical-trial work, with purchasing concentrated among distributors.
Develops, manufactures, and commercializes the FREEDOM System: FREEDOM60 and FreedomEdge syringe drivers, HIgH-Flo subcutaneous safety needle sets, and Precision Flow Rate Tubing. The platform is used with cleared subcutaneous drugs, mainly immunoglobulin therapies for chronic immune and neuromuscular conditions.
Product sales are split between Domestic Core and International Core, with the US market carrying most of the revenue. A smaller Pharma Services and Clinical Trials line supplies products and engineering services for biopharma feasibility and trial work.
Execution centers on reusable mechanical pumps, matched disposables, and new drug clearances that expand what the platform can administer in home, alternate-site, or clinician-supported settings. The business depends on drug supply, distributor ordering, reimbursement, component sourcing, regulatory clearances, and EU MDR compliance for consumables.
Company facts
Categories
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | Craig-Hallum | Reiterate | Buy | $7 | $6 | |
| Jan 13, 2026 | Craig-Hallum | Target | $7 | |||
| Dec 22, 2025 | Lake Street | Reiterate | Buy | $8 | ||
| Dec 17, 2025 | Canaccord Genuity | Reiterate | Buy | $3 | $6 | |
| Feb 14, 2025 | Piper Sandler | Downgrade | Overweight | Neutral |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $8.3M · Total debt $3.2M · Total assets $28.0M · Shareholders' equity $18.1M
- Revenue
- $12.0M
- Operating income
- $627.0K
- Net income
- $252.4K
No dividends on record.
| Institutions93 holders · as of Mar 31, 2026 | 45.14% | 20.84M shares | |
| Insiders13 holders · as of Aug 6, 2026 | 28.84% | 13.32M shares | |
| Otherremainder | 26.02% | 12.01M shares |
46.17M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Joseph M. Jr. MankoInsiderdirector, 10 percent owner | 12.67% | 5.85M | Form 4filed Jul 1, 2026 ↗ |
Mathew P. ArensInsider | 11.41% | 5.27M | 13Gfiled Feb 14, 2024 ↗ |
First Light Asset Management, LLCInstitution | 8.16% | 3.77M | 13Fas of Mar 31, 2026 |
Topline Capital Management, LLCInstitution | 7.61% | 3.51M | 13Fas of Mar 31, 2026 |
BlackRock, Inc.Institution | 5.14% | 2.37M | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more · Form 4 — an insider's transaction report
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 11, 2026 | Adam R. Kalbermatten | officer: President-Chief Commercial Off | +12,500 | $3.94 |
| May 15, 2026 | Linda M. Tharby | director, officer: Chief Executive Officer | +2,382 | $597.46 |
| May 18, 2026 | Eric Schiller | officer: Chief Technology Officer | +5,000 | $3.91 |
| May 14, 2026 | Thomas Edward Adams | officer: Chief Financial Officer | +5,500 | $3.86 |
| May 14, 2026 | Christopher Pazdan | officer: Chief Operating Officer | +5,000 | $3.88 |
- ICU Medical
CADD and syringe pumps challenge home and ambulatory infusion
- Baxter International
Electronic and elastomeric infusion systems across home care
- BD
Wearable injector and infusion assets for biologic delivery
- West Pharmaceutical Services
SmartDose on-body devices overlap with biologic self-administration
- Halozyme Therapeutics
Formulation platforms can reduce reliance on high-volume devices
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| KORU Medical Systems | $3.31 | +0.15% | $151.6M | — | — | 3.4 | +18.2% |
| ICU Medical | $171.00 | +0.65% | $4.25B | 143.9 | 19.2 | 2.0 | −0.2% |
| Baxter International | $25.66 | −0.12% | $13.29B | — | 12.2 | 1.2 | +5.3% |
| BD | $187.03 | −0.29% | $51.67B | 56.5 | 14.2 | 2.5 | −9.6% |
| West Pharmaceutical Services | $340.96 | −0.46% | $24.11B | 43.8 | 37.1 | 7.2 | +13.9% |
| Halozyme Therapeutics | $110.00 | +0.37% | $13.01B | 32.7 | 11.5 | 7.8 | +47.7% |
| Median | 50.1 | 14.2 | 2.5 | +5.3% |