KORU Medical Systems (NASDAQ:KRMD) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded KORU Medical Systems from “buy” to “hold.” Analyst opinion remains mixed, with a MarketBeat consensus of “Moderate Buy” and a $7.00 target price.
• KORU reported quarterly EPS of $0.01, beating the consensus estimate of a $0.02 loss, and revenue of $12.05 million, above expectations of $11.62 million. The company still had a negative net margin and negative return on equity.
• Shares opened at $3.09, close to the stock’s 12-month low of $2.86; its 50-day and 200-day moving averages were $3.12 and $3.97, respectively.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

KRMD has been the subject of several other reports. Craig Hallum restated a "buy" rating and set a $6.00 target price on shares of KORU Medical Systems in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of KORU Medical Systems from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, September 29th. Finally, Zacks Research downgraded KORU Medical Systems from a "strong-buy" rating to a "hold" rating in a report on Friday, October 30th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, KORU Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.00.

KORU Medical Systems Price Performance

NASDAQ:KRMD opened at $3.09 on Friday. The stock's 50 day simple moving average is $3.12 and its 200-day simple moving average is $3.97. KORU Medical Systems has a 12-month low of $2.86 and a 12-month high of $6.61.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $12.05 million for the quarter, compared to analysts' expectations of $11.62 million. KORU Medical Systems had a negative net margin of 4.03% and a negative return on equity of 10.63%. On average, analysts forecast that KORU Medical Systems will post -0.02 earnings per share for the current year.

Insider Transactions at KORU Medical Systems

In other news, insider Adam Kalbermatten purchased 32,000 shares of the stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average price of $3.16 per share, for a total transaction of $101,120.00. Following the completion of the transaction, the insider owned 394,017 shares of the company's stock, valued at approximately $1,245,093.72. The trade was a 8.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 18.50% of the stock is owned by company insiders.

Institutional Trading of KORU Medical Systems

A number of hedge funds have recently modified their holdings of the stock. Algert Global LLC increased its position in KORU Medical Systems by 57.2% during the 2nd quarter. Algert Global LLC now owns 22,737 shares of the company's stock valued at $95,000 after purchasing an additional 8,270 shares during the period. Bank of America Corp DE boosted its stake in shares of KORU Medical Systems by 36.0% in the 1st quarter. Bank of America Corp DE now owns 37,971 shares of the company's stock valued at $164,000 after purchasing an additional 10,045 shares in the last quarter. Vivaldi Capital Management LP increased its holdings in KORU Medical Systems by 51.6% during the 1st quarter. Vivaldi Capital Management LP now owns 29,885 shares of the company's stock valued at $129,000 after purchasing an additional 10,172 shares during the period. Sei Investments Co. boosted its position in shares of KORU Medical Systems by 14.8% during the first quarter. Sei Investments Co. now owns 93,772 shares of the company's stock valued at $405,000 after purchasing an additional 12,062 shares in the last quarter. Finally, Bard Associates Inc. purchased a new position in KORU Medical Systems in the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds 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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