KORU Medical Systems, Inc. (KRMD) – What Are Brokerages Saying About This Stock?

Shares of KORU Medical Systems, Inc. (NASDAQ:KRMD) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $7.00.

Several brokerages recently issued reports on KRMD. Wall Street Zen upgraded shares of 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 reiterated a “buy” rating and set a $6.00 price target on shares of KORU Medical Systems in a research note on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 29th.

KORU Medical Systems Stock Performance

Shares of NASDAQ KRMD traded down $0.02 during midday trading on Tuesday, hitting $2.95. 3,534 shares of the company’s stock traded hands, compared to its average volume of 186,558. KORU Medical Systems has a 1 year low of $2.86 and a 1 year high of $6.61. The stock has a market capitalization of $135.49 million, a price-to-earnings ratio of -73.75 and a beta of 0.39. The firm has a fifty day moving average of $3.25 and a 200 day moving average of $3.82.

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, topping the consensus estimate 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%. On average, equities analysts anticipate that KORU Medical Systems will post -0.02 earnings per share for the current year.

Insider Activity at KORU Medical Systems

In related news, insider Adam Kalbermatten bought 32,000 shares of the firm’s stock in a transaction that occurred 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 acquisition, the insider owned 394,017 shares in the company, valued at $1,245,093.72. This trade represents a 8.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.50% of the stock is owned by company insiders.

Institutional Trading of KORU Medical Systems

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in KORU Medical Systems during the second quarter valued at about $11,039,000. Meros Investment Management LP bought a new position in shares of KORU Medical Systems in the second quarter worth about $3,190,589. Royal Bank of Canada raised its stake in shares of KORU Medical Systems by 77.3% in the first quarter. Royal Bank of Canada now owns 235,804 shares of the company’s stock worth $1,019,000 after buying an additional 102,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of KORU Medical Systems in the second quarter worth about $642,000. Finally, Squarepoint Ops LLC lifted its position in shares of 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 buying an additional 111,733 shares in the last quarter. Institutional investors own 58.60% of the company’s stock.

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.