KORU Medical Systems, Inc. (NASDAQ:KRMD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of KORU Medical Systems, Inc. (NASDAQ:KRMD) have been given an average rating of “Moderate Buy” by the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.00.

Several equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of KORU Medical Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Craig Hallum reissued a “buy” rating and issued a $6.00 price objective on shares of KORU Medical Systems in a research note on Thursday, August 6th. Finally, Wall Street Zen lowered KORU Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, August 8th.

Insider Activity

In related news, insider Adam Kalbermatten purchased 32,000 shares of KORU Medical Systems stock in a transaction dated Tuesday, September 8th. The stock was purchased at an average cost of $3.16 per share, with a total value of $101,120.00. Following the transaction, the insider owned 394,017 shares in the company, valued at approximately $1,245,093.72. The trade was a 8.84% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 18.50% of the company’s stock.

Institutional Investors Weigh In On KORU Medical Systems

A number of institutional investors have recently added to or reduced their stakes in KRMD. Squarepoint Ops LLC raised its holdings in KORU Medical Systems by 858.0% in the second quarter. Squarepoint Ops LLC now owns 124,755 shares of the company’s stock worth $524,000 after purchasing an additional 111,733 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of KORU Medical Systems in the 2nd quarter valued at about $124,000. Meros Investment Management LP purchased a new position in shares of KORU Medical Systems in the 2nd quarter worth approximately $3,190,589. Algert Global LLC grew its position in shares of KORU Medical Systems by 57.2% in the 2nd quarter. Algert Global LLC now owns 22,737 shares of the company’s stock worth $95,000 after buying an additional 8,270 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of KORU Medical Systems during the 2nd quarter worth approximately $642,000. Institutional investors own 58.60% of the company’s stock.

KORU Medical Systems Stock Performance

Shares of KORU Medical Systems stock opened at $3.27 on Friday. The stock’s fifty day moving average price is $3.49 and its 200-day moving average price is $3.94. The firm has a market cap of $150.19 million, a P/E ratio of -81.75 and a beta of 0.43. KORU Medical Systems has a 12 month low of $3.06 and a 12 month high of $6.61.

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

KORU Medical Systems Company Profile

KORU Medical Systems, Inc (NASDAQ:KRMD) develops, manufactures and sells portable infusion systems for the administration of specialty pharmaceuticals and biologic therapies. Its products are designed to support ambulatory, home-based and other non-hospital infusion settings, giving patients and caregivers alternatives to traditional stationary infusion equipment.

The company’s product portfolio includes the FREEDOM Syringe Infusion System, including the FREEDOM60, FREEDOM35 and FREEDOMEDGE infusion pumps, along with related accessories and administration sets.