Piper Sandler Has Lowered Expectations for KORU Medical Systems (NASDAQ:KRMD) Stock Price

KORU Medical Systems (NASDAQ:KRMD) had its price objective dropped by investment analysts at Piper Sandler from $4.50 to $3.50 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 11.11% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Lake Street Capital lifted their price objective on shares of KORU Medical Systems from $4.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Craig Hallum upped their price objective on KORU Medical Systems from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, B. Riley upgraded KORU Medical Systems to a “strong-buy” rating in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $4.50.

KORU Medical Systems Trading Down 4.3 %

Shares of NASDAQ KRMD opened at $3.15 on Thursday. KORU Medical Systems has a twelve month low of $1.86 and a twelve month high of $5.05. The firm has a market cap of $145.34 million, a PE ratio of -12.60 and a beta of 0.39. The business has a fifty day simple moving average of $2.64 and a two-hundred day simple moving average of $3.38. The company has a quick ratio of 2.37, a current ratio of 2.99 and a debt-to-equity ratio of 0.01.

KORU Medical Systems (NASDAQ:KRMD) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). KORU Medical Systems had a negative net margin of 37.42% and a negative return on equity of 24.60%. The firm had revenue of $9.64 million during the quarter, compared to the consensus estimate of $8.86 million. Analysts expect that KORU Medical Systems will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KRMD. JPMorgan Chase & Co. grew its stake in shares of KORU Medical Systems by 2,770.7% during the fourth quarter. JPMorgan Chase & Co. now owns 17,712 shares of the company’s stock worth $68,000 after acquiring an additional 17,095 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of KORU Medical Systems during the fourth quarter worth $73,000. Vivaldi Capital Management LP purchased a new stake in shares of KORU Medical Systems during the fourth quarter valued at $82,000. Balyasny Asset Management L.P. acquired a new position in shares of KORU Medical Systems in the 4th quarter valued at $84,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in KORU Medical Systems in the 4th quarter worth $104,000. 58.60% of the stock is owned by institutional investors and hedge funds.

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.