KORU Medical Systems, Inc. (NASDAQ:KRMD) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

KORU Medical Systems, Inc. (NASDAQ:KRMD) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.00.

KRMD has been the topic of several analyst reports. Wall Street Zen raised KORU Medical Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Zacks Research upgraded shares of KORU Medical Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 1st. Craig Hallum reissued a “buy” rating and set a $6.00 target price on shares of KORU Medical Systems in a research note on Thursday, August 6th. Finally, Weiss Ratings cut shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 29th.

Insider Transactions at KORU Medical Systems

In other KORU Medical Systems news, insider Adam Kalbermatten bought 32,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average cost of $3.16 per share, for a total transaction of $101,120.00. Following the transaction, the insider directly owned 394,017 shares in the company, valued at $1,245,093.72. The trade was a 8.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of KORU Medical Systems in the 2nd quarter worth approximately $11,039,000. Meros Investment Management LP acquired a new position in shares of KORU Medical Systems during the second quarter valued at approximately $3,190,589. Royal Bank of Canada increased its stake in shares of KORU Medical Systems by 77.3% during the first quarter. Royal Bank of Canada now owns 235,804 shares of the company’s stock valued at $1,019,000 after acquiring an additional 102,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in KORU Medical Systems during the second quarter worth approximately $642,000. Finally, 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 purchasing an additional 111,733 shares in the last quarter. 58.60% of the stock is owned by institutional investors and hedge funds.

KORU Medical Systems Stock Up 0.7%

Shares of NASDAQ:KRMD opened at $3.02 on Tuesday. KORU Medical Systems has a fifty-two week low of $2.86 and a fifty-two week high of $6.61. The firm has a 50-day simple moving average of $3.17 and a 200 day simple moving average of $3.78.

KORU Medical Systems (NASDAQ:KRMD) last issued its earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $12.05 million for the quarter, compared to analysts’ expectations of $11.62 million. KORU Medical Systems had a negative net margin of 4.03% and a negative return on equity of 10.63%. As a group, analysts expect that KORU Medical Systems will post -0.02 EPS for the current fiscal year.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc develops and manufactures portable infusion systems used to deliver specialty pharmaceuticals, biologic therapies and other fluids. The company’s products are designed primarily for subcutaneous infusion, allowing certain treatments to be administered in home-care and ambulatory settings.

Its product portfolio includes the Freedom Syringe Infusion System, which comprises ambulatory infusion pumps such as the Freedom60, FreedomEdge and FreedomQ models, along with flow-control tubing sets, needles and related accessories.