B. Riley Comments on KORU Medical Systems, Inc.’s FY2024 Earnings (NASDAQ:KRMD)

KORU Medical Systems, Inc. (NASDAQ:KRMD) – B. Riley reduced their FY2024 EPS estimates for shares of KORU Medical Systems in a research report issued to clients and investors on Wednesday, May 1st. B. Riley analyst W. Wood now anticipates that the company will post earnings per share of ($0.16) for the year, down from their previous estimate of ($0.15). B. Riley currently has a “Buy” rating and a $4.00 target price on the stock. The consensus estimate for KORU Medical Systems’ current full-year earnings is ($0.16) per share.

KORU Medical Systems (NASDAQ:KRMD) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $8.20 million for the quarter, compared to analysts’ expectations of $7.49 million. KORU Medical Systems had a negative return on equity of 25.10% and a negative net margin of 45.24%. During the same period last year, the firm posted ($0.05) EPS.

KORU Medical Systems Stock Down 2.2 %

KRMD opened at $2.26 on Monday. The company has a market cap of $103.42 million, a P/E ratio of -8.07 and a beta of 0.55. KORU Medical Systems has a 12 month low of $1.98 and a 12 month high of $4.30. The business’s 50-day moving average price is $2.21 and its 200-day moving average price is $2.23. The company has a current ratio of 4.01, a quick ratio of 3.37 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On KORU Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mesirow Financial Investment Management Inc. bought a new stake in KORU Medical Systems in the first quarter valued at $26,000. Advisor Resource Council purchased a new stake in shares of KORU Medical Systems in the 1st quarter worth about $63,000. Bard Associates Inc. boosted its stake in shares of KORU Medical Systems by 22.5% during the 4th quarter. Bard Associates Inc. now owns 26,710 shares of the company’s stock valued at $66,000 after purchasing an additional 4,910 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of KORU Medical Systems by 70.1% during the third quarter. Eagle Asset Management Inc. now owns 54,096 shares of the company’s stock valued at $146,000 after buying an additional 22,299 shares during the period. Finally, White Pine Capital LLC bought a new position in KORU Medical Systems in the third quarter worth about $158,000. 58.60% of the stock is owned by institutional investors.

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.