KORU Medical Systems (NASDAQ:KRMD) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of KORU Medical Systems (NASDAQ:KRMD) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other research analysts have also recently weighed in on the stock. Zacks Research cut shares of KORU Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 30th. Weiss Ratings lowered shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 29th. Finally, Craig Hallum reissued a “buy” rating and issued a $6.00 price target on shares of KORU Medical Systems in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

KORU Medical Systems Trading Up 4.5%

Shares of KRMD opened at $3.23 on Friday. The stock has a 50-day moving average price of $3.12 and a 200-day moving average price of $3.96. KORU Medical Systems has a 12-month low of $2.86 and a 12-month high of $6.61.

Insiders Place Their Bets

In other news, insider Adam Kalbermatten purchased 32,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was purchased at an average price of $3.16 per share, with a total value of $101,120.00. Following the completion of the purchase, 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 legal filing with the Securities & Exchange Commission, which is available through this link. 18.50% of the stock is owned by insiders.

Hedge Funds Weigh In On KORU Medical Systems

A number of large investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in KORU Medical Systems in the 2nd quarter worth approximately $11,039,000. Meros Investment Management LP bought a new position in KORU Medical Systems during the second quarter valued at approximately $3,190,589. White Pine Capital LLC purchased a new position in shares of KORU Medical Systems during the third quarter worth approximately $840,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of KORU Medical Systems during the second quarter worth approximately $642,000. Finally, Squarepoint Ops LLC raised its stake in shares of KORU Medical Systems by 858.0% during the second quarter. Squarepoint Ops LLC now owns 124,755 shares of the company’s stock worth $524,000 after acquiring an additional 111,733 shares in the last quarter. 58.60% of the stock is owned by hedge funds and other institutional investors.

About KORU Medical Systems

KORU Medical Systems, Inc develops, manufactures and markets portable infusion systems and related accessories for the home and alternate-site infusion markets. The company’s products are designed to support the controlled delivery of specialty drugs, including subcutaneous immunoglobulin (SCIG) therapies, through ambulatory infusion systems.

KORU’s principal product platform is the Freedom Syringe Infusion System, which includes ambulatory syringe pumps such as the Freedom60, FreedomEdge and FreedomIQ, along with flow-control tubing sets and other disposable components.