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

Zacks Research upgraded shares of KORU Medical Systems (NASDAQ:KRMD) from a hold rating to a strong-buy rating in a research report released on Thursday,Zacks reports.

Several other brokerages also recently issued reports on KRMD. Weiss Ratings downgraded shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Craig Hallum restated a “buy” rating and issued a $6.00 target price on shares of KORU Medical Systems in a research note on Thursday, August 6th. Finally, Wall Street Zen raised shares of KORU Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.00.

KORU Medical Systems Price Performance

Shares of KRMD opened at $2.96 on Thursday. The stock’s 50-day moving average is $3.38 and its two-hundred day moving average is $3.88. The stock has a market cap of $135.96 million, a PE ratio of -74.00 and a beta of 0.39. KORU Medical Systems has a 12 month low of $2.86 and a 12 month high of $6.61.

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

Insider Transactions at KORU Medical Systems

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

Hedge Funds Weigh In On KORU Medical Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its stake in KORU Medical Systems by 858.0% during the 2nd quarter. Squarepoint Ops LLC now owns 124,755 shares of the company’s stock valued at $524,000 after acquiring an additional 111,733 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of KORU Medical Systems in the 2nd quarter worth about $124,000. Meros Investment Management LP bought a new stake in shares of KORU Medical Systems in the 2nd quarter worth about $3,190,589. Algert Global LLC raised its stake 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 valued at $95,000 after purchasing an additional 8,270 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of KORU Medical Systems in the 2nd quarter valued at about $642,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

About KORU Medical Systems

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.