KORU Medical Systems (NASDAQ:KRMD) Raised to Strong-Buy at Zacks Research

KORU Medical Systems (NASDAQ:KRMD) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Other equities analysts have also issued research reports about the stock. Craig Hallum reissued a “buy” rating and issued a $6.00 price target on shares of KORU Medical Systems in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, Wall Street Zen upgraded shares of KORU Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.00.

KORU Medical Systems Stock Performance

KRMD opened at $2.96 on Thursday. The company has a market cap of $135.96 million, a PE ratio of -74.00 and a beta of 0.39. The stock has a 50-day moving average of $3.38 and a 200-day moving average of $3.88. KORU Medical Systems has a 52-week low of $2.86 and a 52-week high of $6.61.

KORU Medical Systems (NASDAQ:KRMD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.05 million for the quarter, compared to the consensus estimate of $11.62 million. On average, research analysts predict that KORU Medical Systems will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Adam Kalbermatten bought 32,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average cost of $3.16 per share, for a total transaction of $101,120.00. Following the completion of the purchase, the insider owned 394,017 shares of the company’s stock, valued at $1,245,093.72. This trade represents a 8.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 18.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KORU Medical Systems

Several large investors have recently modified their holdings of KRMD. Bard Associates Inc. acquired a new position in shares of KORU Medical Systems in the 2nd quarter worth approximately $61,000. Arrowstreet Capital Limited Partnership acquired a new stake in KORU Medical Systems in the 1st quarter valued at $79,000. Algert Global LLC grew its position in KORU Medical Systems by 57.2% in the second quarter. Algert Global LLC now owns 22,737 shares of the company’s stock valued at $95,000 after acquiring an additional 8,270 shares during the period. GSA Capital Partners LLP bought a new stake in KORU Medical Systems in the second quarter valued at $124,000. Finally, Landscape Capital Management L.L.C. acquired a new position in KORU Medical Systems during the second quarter worth $124,000. 58.60% of the stock is currently owned by institutional investors.

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.