KORU Medical Systems (NASDAQ:KRMD) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of KORU Medical Systems (NASDAQ:KRMD) from a buy rating to a hold rating in a research note issued to investors on Saturday.

A number of other research firms also recently weighed in on KRMD. Weiss Ratings upgraded KORU Medical Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 30th. Craig Hallum reissued a “buy” rating and set a $6.00 price target on shares of KORU Medical Systems in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

KORU Medical Systems Stock Down 0.3%

KRMD opened at $3.55 on Friday. The business’s fifty day simple moving average is $4.10 and its 200 day simple moving average is $4.37. KORU Medical Systems has a 52 week low of $3.21 and a 52 week high of $6.61. The stock has a market cap of $163.06 million, a PE ratio of -88.75 and a beta of 0.45.

KORU Medical Systems (NASDAQ:KRMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. KORU Medical Systems had a negative return on equity of 10.63% and a negative net margin of 4.03%.The firm had revenue of $12.05 million during the quarter, compared to analyst estimates of $11.62 million. As a group, equities analysts anticipate that KORU Medical Systems will post -0.04 earnings per share for the current year.

Insider Activity at KORU Medical Systems

In related news, insider Adam R. Kalbermatten bought 12,500 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $3.94 per share, with a total value of $49,250.00. Following the purchase, the insider owned 312,500 shares in the company, valued at approximately $1,231,250. The trade was a 4.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders bought a total of 28,000 shares of company stock valued at $109,430 in the last quarter. 18.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KORU Medical Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Light Asset Management LLC lifted its position in KORU Medical Systems by 5.1% in the second quarter. First Light Asset Management LLC now owns 4,681,626 shares of the company’s stock valued at $16,760,000 after purchasing an additional 226,700 shares during the last quarter. BlackRock Inc. bought a new position in shares of KORU Medical Systems in the second quarter worth approximately $11,039,000. Vanguard Group Inc. increased its stake in shares of KORU Medical Systems by 2.9% in the third quarter. Vanguard Group Inc. now owns 2,145,772 shares of the company’s stock worth $8,218,000 after buying an additional 60,109 shares during the period. Geode Capital Management LLC increased its stake in shares of KORU Medical Systems by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,022,860 shares of the company’s stock worth $5,944,000 after buying an additional 16,062 shares during the period. Finally, Simcoe Capital LLC bought a new stake in KORU Medical Systems during the 4th quarter valued at $3,921,000. 58.60% of the stock is currently owned by institutional investors.

KORU Medical Systems Company 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. Its products include the FREEDOM60 syringe infusion system, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing products.