KORU Medical Systems (NASDAQ:KRMD) Stock Rating Upgraded by Wall Street Zen

KORU Medical Systems (NASDAQ:KRMD) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

Several other equities analysts also recently commented on KRMD. Craig Hallum restated a “buy” rating and issued a $6.00 price objective on shares of KORU Medical Systems in a research report on Thursday, August 6th. Weiss Ratings upgraded KORU Medical Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, KORU Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $7.00.

KORU Medical Systems Stock Performance

KRMD opened at $3.21 on Friday. KORU Medical Systems has a fifty-two week low of $2.99 and a fifty-two week high of $6.61. The firm’s fifty day moving average is $3.47 and its 200 day moving average is $3.93. The stock has a market cap of $147.44 million, a price-to-earnings ratio of -80.25 and a beta of 0.43.

KORU Medical Systems (NASDAQ:KRMD) last issued its earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $11.62 million. On average, equities research analysts predict that KORU Medical Systems will post -0.02 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of KORU Medical Systems

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in KORU Medical Systems in the second quarter worth about $11,039,000. Meros Investment Management LP purchased a new stake in KORU Medical Systems during the second quarter valued at approximately $3,190,589. Royal Bank of Canada lifted its stake in shares of KORU Medical Systems by 77.3% in the 1st quarter. Royal Bank of Canada now owns 235,804 shares of the company’s stock valued at $1,019,000 after purchasing an additional 102,800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of KORU Medical Systems in the 2nd quarter valued at approximately $642,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of KORU Medical Systems by 858.0% in the 2nd quarter. Squarepoint Ops LLC now owns 124,755 shares of the company’s stock worth $524,000 after purchasing an additional 111,733 shares during the period. 58.60% of the stock is currently owned by hedge funds and other 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.