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

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

Several other equities analysts have also commented on KRMD. Weiss Ratings raised KORU Medical Systems from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. Craig Hallum reaffirmed a “buy” rating and set a $6.00 price target on shares of KORU Medical Systems in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

KORU Medical Systems Price Performance

NASDAQ KRMD opened at $3.55 on Friday. KORU Medical Systems has a 52 week low of $3.21 and a 52 week high of $6.61. The firm has a 50 day moving average of $4.10 and a two-hundred day moving average of $4.36. The stock has a market capitalization of $163.05 million, a PE ratio of -88.75 and a beta of 0.45.

KORU Medical Systems (NASDAQ:KRMD) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $12.05 million for the quarter, compared to analyst estimates 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 research analysts expect that KORU Medical Systems will post -0.04 earnings per share for the current fiscal year.

Insider Activity at KORU Medical Systems

In other KORU Medical Systems news, insider Adam R. Kalbermatten bought 12,500 shares of KORU Medical Systems stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $3.94 per share, with a total value of $49,250.00. Following the completion of the acquisition, the insider owned 312,500 shares of the company’s stock, valued at approximately $1,231,250. This represents a 4.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have acquired 28,000 shares of company stock valued at $109,430. Insiders own 18.50% of the company’s stock.

Institutional Trading of KORU Medical Systems

Several hedge funds and other institutional investors have recently made changes to their positions in KRMD. BlackRock Inc. acquired a new position in KORU Medical Systems during the 2nd quarter worth approximately $11,039,000. Deutsche Bank AG acquired a new stake in shares of KORU Medical Systems in the 2nd quarter valued at approximately $183,000. Bank of New York Mellon Corp acquired a new stake in shares of KORU Medical Systems in the 2nd quarter valued at approximately $368,000. GSA Capital Partners LLP purchased a new stake in shares of KORU Medical Systems in the second quarter valued at approximately $124,000. Finally, Bank of America Corp DE boosted its stake in shares of KORU Medical Systems by 36.0% in the first quarter. Bank of America Corp DE now owns 37,971 shares of the company’s stock valued at $164,000 after buying an additional 10,045 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

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.