KORU Medical Systems, Inc. (NASDAQ:KRMD) Given Consensus Recommendation of “Moderate Buy” by Analysts

KORU Medical Systems, Inc. (NASDAQ:KRMD) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.50.

KRMD has been the topic of several research reports. Lake Street Capital upped 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 report on Monday, December 22nd. Wall Street Zen cut shares of KORU Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 14th. Craig Hallum reaffirmed a “buy” rating and issued a $7.00 target price on shares of KORU Medical Systems in a research note on Tuesday, January 13th. B. Riley Financial upped their target price on shares of KORU Medical Systems from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $6.00 price target on shares of KORU Medical Systems in a research note on Friday, March 13th.

KORU Medical Systems Stock Down 3.7%

KRMD stock traded down $0.16 during midday trading on Friday, reaching $4.20. 11,689 shares of the company’s stock traded hands, compared to its average volume of 192,321. The company has a 50-day simple moving average of $4.86 and a two-hundred day simple moving average of $4.81. KORU Medical Systems has a 1-year low of $1.86 and a 1-year high of $6.61. The company has a market cap of $194.75 million, a price-to-earnings ratio of -70.00 and a beta of 0.47.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. increased its stake in shares of KORU Medical Systems by 24.8% in the 4th quarter. Invesco Ltd. now owns 27,873 shares of the company’s stock valued at $162,000 after buying an additional 5,546 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of KORU Medical Systems during the fourth quarter valued at $127,000. Price T Rowe Associates Inc. MD boosted its holdings in KORU Medical Systems by 26.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,036 shares of the company’s stock valued at $158,000 after acquiring an additional 5,649 shares during the last quarter. Russell Investments Group Ltd. increased its position in KORU Medical Systems by 28.3% in the fourth quarter. Russell Investments Group Ltd. now owns 195,773 shares of the company’s stock worth $1,137,000 after purchasing an additional 43,215 shares during the period. Finally, Royal Bank of Canada increased its position in KORU Medical Systems by 8,719.9% in the fourth quarter. Royal Bank of Canada now owns 133,004 shares of the company’s stock worth $773,000 after purchasing an additional 131,496 shares during the period. 58.60% of the stock is currently 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. Its products include the FREEDOM60 syringe infusion system, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing products.