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KORU Medical Systems

KRMD on Nasdaq. Market value $139m.

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Should I look at this?

We have not checked this company yet

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 85 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

4 investors own more than 5%.

  • Joseph M. Manko, Jr.
    Passive investor
    at least 12.6%−1.4 pts
    (filed with 3 related holders)
    Since 13 February 2026
    What they said

    The Reporting Persons acquired the shares of Common Stock for investment purposes. The purpose of this Amendment No. 12 is to disclose changes in the beneficial ownership of the shares of Common Stock held by the Reporting Persons including: (i) the issuance of shares of Common…

    Read the filing
  • at least 8.5%
    (filed with 2 related holders)
    Since 31 December 2025
  • Mathew P. Arens
    Passive investor
    at least 8.3%−2.2 pts
    (filed with 1 related holder)
    Since 31 December 2025
  • BlackRock, Inc.
    Passive investor
    5.6%+0.7 pts
    Since 30 June 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 5 insiders bought $215,262 of shares on the open market.

  • KALBERMATTEN ADAM R
    Chief Commercial Officer
    Bought
    Date
    8 September 2026
    Shares
    32,000
    Price
    $3.16
    Value
    $101,120
  • KALBERMATTEN ADAM R
    President-Chief Commercial Off
    Bought
    Date
    11 June 2026
    Shares
    12,500
    Price
    $3.94
    Value
    $49,275
  • Schiller Eric
    Chief Technology Officer
    Bought
    Date
    18 May 2026
    Shares
    5,000
    Price
    $3.91
    Value
    $19,550
  • Tharby Linda M
    Chief Executive Officer, Director
    Bought
    Date
    15 May 2026
    Shares
    1,191
    Price
    $3.92
    Value
    $4,669
  • Pazdan Christopher
    Chief Operating Officer
    Bought
    Date
    14 May 2026
    Shares
    5,000
    Price
    $3.88
    Value
    $19,400
  • Adams Thomas Edward
    Chief Financial Officer
    Bought
    Date
    14 May 2026
    Shares
    5,500
    Price
    $3.86
    Value
    $21,248

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the serious warning signs we check for were found. 1 thing worth knowing.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 12 Mar 2026, plus the 10-Q filed 5 Aug 2026 and 7 later 8-Ks.

  • One big customer

    Worth knowing

    One customer brings in a big share of sales: 29% last year. Losing that customer would hurt.

    “As of December 31, 2025, these nine distributors comprised approximately 77% of our net revenues with one U.S. distributor contributing 29%.”

    From the 10-K filed 12 March 2026, Item 1A. Risk Factors. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.