KORU Medical Systems (NASDAQ:KRMD) Releases Earnings Results, Beats Expectations By $0.03 EPS

KORU Medical Systems (NASDAQ:KRMD) announced its quarterly earnings results on Thursday. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03, FiscalAI reports. KORU Medical Systems had a negative return on equity of 22.43% and a negative net margin of 9.49%.The company had revenue of $10.90 million during the quarter, compared to analysts’ expectations of $10.90 million.

KORU Medical Systems Price Performance

NASDAQ KRMD traded down $0.20 during trading on Thursday, hitting $4.31. 136,871 shares of the company’s stock were exchanged, compared to its average volume of 196,024. The company has a market cap of $199.64 million, a PE ratio of -53.88 and a beta of 0.47. The company has a current ratio of 2.48, a quick ratio of 1.92 and a debt-to-equity ratio of 0.01. KORU Medical Systems has a fifty-two week low of $1.86 and a fifty-two week high of $6.61. The stock’s 50 day moving average price is $5.16 and its two-hundred day moving average price is $4.80.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KRMD shares. Lake Street Capital boosted their price objective on shares of KORU Medical Systems from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Canaccord Genuity Group upped their price target on shares of KORU Medical Systems from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of KORU Medical Systems in a research report on Thursday, January 22nd. Craig Hallum restated a “buy” rating and issued a $7.00 price objective on shares of KORU Medical Systems in a report on Tuesday, January 13th. Finally, Wall Street Zen upgraded shares of KORU Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, KORU Medical Systems has an average rating of “Moderate Buy” and an average target price of $6.13.

Hedge Funds Weigh In On KORU Medical Systems

Institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC lifted its stake in KORU Medical Systems by 5.1% in the 2nd 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. Vanguard Group Inc. increased its holdings in shares of KORU Medical Systems by 2.9% during 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of KORU Medical Systems by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,022,860 shares of the company’s stock valued at $5,944,000 after acquiring an additional 16,062 shares during the last quarter. State Street Corp lifted its stake in shares of KORU Medical Systems by 32.6% in the 4th quarter. State Street Corp now owns 602,645 shares of the company’s stock valued at $3,501,000 after acquiring an additional 148,166 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of KORU Medical Systems by 189.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company’s stock valued at $617,000 after acquiring an additional 158,914 shares in the last quarter. 58.60% of the stock is currently owned by institutional investors and hedge funds.

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