KORU Medical Systems, Inc. (NASDAQ:KRMD) Given Average Recommendation of “Moderate Buy” by Brokerages

KORU Medical Systems, Inc. (NASDAQ:KRMD) has been given an average rating of “Moderate Buy” by the five ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.00.

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of KORU Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Craig Hallum reiterated a “buy” rating and issued a $6.00 price target on shares of KORU Medical Systems in a research report on Thursday, August 6th. Finally, Weiss Ratings cut KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday.

Insider Buying and Selling

In related news, insider Adam R. Kalbermatten acquired 12,500 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $3.94 per share, with a total value of $49,250.00. Following the acquisition, the insider directly owned 312,500 shares of the company’s stock, valued at approximately $1,231,250. The trade was a 4.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC lifted its position in KORU Medical Systems by 927.4% during the first quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company’s stock worth $196,000 after purchasing an additional 69,758 shares during the period. Goldman Sachs Group Inc. increased its holdings in KORU Medical Systems by 189.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company’s stock valued at $617,000 after buying an additional 158,914 shares during the period. Jane Street Group LLC increased its holdings in KORU Medical Systems by 136.7% in the 1st quarter. Jane Street Group LLC now owns 163,137 shares of the company’s stock valued at $414,000 after buying an additional 94,214 shares during the period. Acadian Asset Management LLC acquired a new position in shares of KORU Medical Systems in the 1st quarter valued at approximately $63,000. Finally, Geode Capital Management LLC raised its position in shares of KORU Medical Systems by 101.3% in the 2nd quarter. Geode Capital Management LLC now owns 997,147 shares of the company’s stock valued at $3,571,000 after buying an additional 501,875 shares in the last quarter. Institutional investors own 58.60% of the company’s stock.

KORU Medical Systems Stock Performance

Shares of KRMD stock traded down $0.02 during midday trading on Monday, hitting $3.19. 66,168 shares of the company were exchanged, compared to its average volume of 175,535. KORU Medical Systems has a 52 week low of $3.14 and a 52 week high of $6.61. The firm has a market capitalization of $146.53 million, a P/E ratio of -79.72 and a beta of 0.45. The firm’s 50 day moving average price is $3.97 and its two-hundred day moving average price is $4.20.

KORU Medical Systems (NASDAQ:KRMD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.01 earnings per share (EPS) 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 firm had revenue of $12.05 million during the quarter, compared to the consensus estimate of $11.62 million. Analysts expect that KORU Medical Systems will post -0.03 EPS for the current year.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria. Its products include the FREEDOM60 syringe infusion system, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing products.