KORU Medical Systems' (KRMD) Neutral Rating Reiterated at Piper Sandler

Key Points

• Piper Sandler reaffirmed its Neutral rating on KORU Medical Systems but cut its price target from $5.00 to $4.50, implying 30.93% upside from the then-current share price.
• Analyst opinions are mixed: MarketBeat reported a consensus Hold rating and an average price target of $6.50, with four Buy, two Hold, and one Sell rating.
• KORU reported quarterly EPS of $0.02, beating the consensus estimate of a $0.02 loss, and revenue of $11.57 million versus the $11.33 million estimate.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They currently have a $4.50 target price on the stock, down from their previous target price of $5.00. Piper Sandler's price target would suggest a potential upside of 30.93% from the stock's current price.

KRMD has been the topic of a number of other reports. Weiss Ratings lowered KORU Medical Systems from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, September 29th. Wall Street Zen lowered shares of KORU Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday. Zacks Research cut shares of KORU Medical Systems from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 30th. Finally, Craig Hallum reaffirmed a "buy" rating and set a $6.00 price target on shares of KORU Medical Systems in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.50.

KORU Medical Systems Price Performance

KRMD stock opened at $3.44 on Wednesday. The company has a 50 day simple moving average of $3.12 and a 200 day simple moving average of $3.95. The stock has a market cap of $157.86 million, a price-to-earnings ratio of -82.80 and a beta of 0.47. KORU Medical Systems has a 1 year low of $2.86 and a 1 year high of $6.61.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last announced its quarterly earnings results on Tuesday, November 10th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The company had revenue of $11.57 million during the quarter, compared to the consensus estimate of $11.33 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 anticipate 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 the firm's stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average price of $3.16 per share, with a total value of $101,120.00. Following the acquisition, the insider owned 394,017 shares in the company, valued at $1,245,093.72. The trade was a 8.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 18.50% of the company's stock.

Institutional Trading of KORU Medical Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in KORU Medical Systems in the 2nd quarter worth approximately $11,039,000. Meros Investment Management LP purchased a new position in KORU Medical Systems in the 2nd quarter valued at approximately $3,190,589. White Pine Capital LLC bought a new stake in KORU Medical Systems during the 3rd quarter valued at $840,000. Royal Bank of Canada raised its holdings in KORU Medical Systems by 77.3% during the 1st quarter. Royal Bank of Canada now owns 235,804 shares of the company's stock valued at $1,019,000 after acquiring an additional 102,800 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of KORU Medical Systems during the second quarter worth $642,000. Institutional investors own 58.60% of the company's stock.

KORU Medical Systems Company Profile

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.

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