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

Wall Street Zen downgraded shares of KORU Medical Systems (NASDAQ:KRMD) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

A number of other equities analysts also recently weighed in on KRMD. Lake Street Capital increased their price target on shares of KORU Medical Systems from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Craig Hallum restated a “buy” rating and set a $7.00 price objective on shares of KORU Medical Systems in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KORU Medical Systems in a research report on Thursday, January 22nd. B. Riley Financial lifted their target price on KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $6.00 price target on shares of KORU Medical Systems in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.50.

KORU Medical Systems Stock Up 0.2%

Shares of NASDAQ:KRMD opened at $4.29 on Friday. The company has a market cap of $198.93 million, a P/E ratio of -71.50 and a beta of 0.47. The business has a fifty day simple moving average of $5.08 and a 200-day simple moving average of $4.80. KORU Medical Systems has a 52 week low of $1.86 and a 52 week high of $6.61.

KORU Medical Systems (NASDAQ:KRMD) last released its earnings results on Thursday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. KORU Medical Systems had a negative net margin of 6.41% and a negative return on equity of 15.90%. The business had revenue of $10.90 million for the quarter, compared to analysts’ expectations of $10.90 million. Sell-side analysts expect that KORU Medical Systems will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KRMD. Police & Firemen s Retirement System of New Jersey acquired a new stake in KORU Medical Systems during the 2nd quarter valued at approximately $30,000. BNP Paribas Financial Markets raised its position in shares of KORU Medical Systems by 52.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company’s stock valued at $39,000 after purchasing an additional 3,478 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of KORU Medical Systems in the 2nd quarter valued at approximately $59,000. Intech Investment Management LLC purchased a new position in shares of KORU Medical Systems during the 2nd quarter valued at approximately $73,000. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of KORU Medical Systems during the 4th quarter valued at approximately $127,000. 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.