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

Wall Street Zen cut shares of KORU Medical Systems (NASDAQ:KRMD) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other analysts also recently issued reports on the stock. Zacks Research downgraded shares of KORU Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 30th. Weiss Ratings cut KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 29th. Finally, Craig Hallum reiterated a “buy” rating and set a $6.00 price target on shares of KORU Medical Systems in a report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.00.

KORU Medical Systems Price Performance

Shares of KRMD opened at $3.09 on Friday. The stock has a 50-day moving average of $3.12 and a 200-day moving average of $3.97. The company has a market cap of $141.92 million, a PE ratio of -77.25 and a beta of 0.47. KORU Medical Systems has a one year low of $2.86 and a one year high of $6.61.

KORU Medical Systems (NASDAQ:KRMD) last issued its earnings results on Wednesday, August 5th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $12.05 million during the quarter, compared to analyst estimates of $11.62 million. KORU Medical Systems had a negative return on equity of 10.63% and a negative net margin of 4.03%. Analysts expect that KORU Medical Systems will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Adam Kalbermatten acquired 32,000 shares of KORU Medical Systems stock in a transaction on Tuesday, September 8th. The stock was acquired at an average cost of $3.16 per share, with a total value of $101,120.00. Following the transaction, the insider owned 394,017 shares of the company’s stock, valued at approximately $1,245,093.72. This trade represents a 8.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 18.50% of the company’s stock.

Institutional Trading of KORU Medical Systems

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of KORU Medical Systems during the 2nd quarter worth $11,039,000. Meros Investment Management LP bought a new position in KORU Medical Systems during the second quarter valued at about $3,190,589. Royal Bank of Canada grew its position in KORU Medical Systems by 77.3% during the first quarter. Royal Bank of Canada now owns 235,804 shares of the company’s stock valued at $1,019,000 after buying an additional 102,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in KORU Medical Systems during the second quarter valued at about $642,000. Finally, Squarepoint Ops LLC increased its holdings in KORU Medical Systems by 858.0% during the second quarter. Squarepoint Ops LLC now owns 124,755 shares of the company’s stock worth $524,000 after buying an additional 111,733 shares during the last quarter. 58.60% of the stock is currently owned by institutional investors.

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.