KORU Medical Systems, Inc. (NASDAQ:KRMD) Receives Consensus Rating of “Moderate Buy” from Brokerages

KORU Medical Systems, Inc. (NASDAQ:KRMD) has earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.25.

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of KORU Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 price target on shares of KORU Medical Systems in a report on Friday, March 13th. B. Riley Financial raised their price objective on KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of KORU Medical Systems in a research note on Tuesday, April 21st.

KORU Medical Systems Stock Performance

Shares of NASDAQ:KRMD traded down $0.08 during trading on Friday, reaching $3.90. 147,083 shares of the stock were exchanged, compared to its average volume of 141,384. The firm’s 50-day moving average price is $4.23 and its 200 day moving average price is $4.84. The firm has a market cap of $179.13 million, a price-to-earnings ratio of -78.00 and a beta of 0.43. KORU Medical Systems has a 12-month low of $2.63 and a 12-month high of $6.61.

KORU Medical Systems (NASDAQ:KRMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). KORU Medical Systems had a negative net margin of 5.27% and a negative return on equity of 13.61%. The firm had revenue of $11.76 million for the quarter, compared to analyst estimates of $11.28 million. As a group, equities research analysts forecast that KORU Medical Systems will post -0.03 EPS for the current year.

Hedge Funds Weigh In On KORU Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in KORU Medical Systems by 52.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company’s stock worth $39,000 after acquiring an additional 3,478 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of KORU Medical Systems during the second quarter valued at approximately $59,000. Acadian Asset Management LLC acquired a new position in shares of KORU Medical Systems during the first quarter worth $63,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of KORU Medical Systems during the first quarter worth $79,000. Finally, Invesco Ltd. purchased a new position in shares of KORU Medical Systems in the second quarter valued at $80,000. 58.60% of the stock is owned by institutional investors and hedge funds.

About KORU Medical Systems

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.