KORU Medical Systems (NASDAQ:KRMD) Rating Lowered to “Hold” at Wall Street Zen

KORU Medical Systems (NASDAQ:KRMD) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Zacks Research downgraded KORU Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, October 30th. Craig Hallum restated a “buy” rating and issued a $6.00 price target on shares of KORU Medical Systems in a research note on Thursday, August 6th. Finally, 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. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, KORU Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

KORU Medical Systems Price Performance

KRMD opened at $3.09 on Friday. The business has a fifty day simple moving average of $3.12 and a 200 day simple moving average of $3.97. KORU Medical Systems has a 1 year low of $2.86 and a 1 year high of $6.61. The company has a market capitalization of $141.92 million, a PE ratio of -77.25 and a beta of 0.47.

Insider Transactions at KORU Medical Systems

In related news, insider Adam Kalbermatten purchased 32,000 shares of KORU Medical Systems stock in a transaction that occurred on Tuesday, September 8th. The shares were acquired at an average price of $3.16 per share, with a total value of $101,120.00. Following the completion of the transaction, the insider directly owned 394,017 shares of the company’s stock, valued at $1,245,093.72. This represents a 8.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KORU Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRMD. Squarepoint Ops LLC raised its stake in KORU Medical Systems by 858.0% in the second 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. Bank of America Corp DE bought a new stake in KORU Medical Systems during the second quarter worth about $124,000. Meros Investment Management LP acquired a new stake in KORU Medical Systems during the second quarter worth about $3,190,589. Algert Global LLC grew its stake in KORU Medical Systems by 57.2% during the second quarter. Algert Global LLC now owns 22,737 shares of the company’s stock worth $95,000 after buying an additional 8,270 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in KORU Medical Systems in the 2nd quarter valued at about $642,000. 58.60% of the stock is owned by institutional investors and hedge funds.

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.