KORU Medical Systems (NASDAQ:KRMD) Stock Rating Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded KORU Medical Systems from “hold” to “buy.” The stock has a consensus “Moderate Buy” rating and an average price target of $7.00, compared with a recent price of $3.21.
• KORU reported quarterly revenue of $12.05 million and earnings of $0.01 per share, beating analyst estimates for both revenue and EPS, although the company continues to report negative margins and return on equity.
• Insider Adam Kalbermatten purchased 32,000 shares for about $101,120, while institutional investors own 58.6% of the company’s stock.

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

A number of other research analysts also recently weighed in on the company. Craig Hallum reissued a "buy" rating and issued a $6.00 target price on shares of KORU Medical Systems in a report on Thursday, August 6th. Weiss Ratings upgraded shares of KORU Medical Systems from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 14th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, KORU Medical Systems currently has a consensus rating of "Moderate Buy" and an average target price of $7.00.

KORU Medical Systems Price Performance

NASDAQ:KRMD opened at $3.21 on Friday. The company's 50-day simple moving average is $3.47 and its 200 day simple moving average is $3.93. KORU Medical Systems has a one year low of $2.99 and a one year high of $6.61. The firm has a market capitalization of $147.44 million, a P/E ratio of -80.25 and a beta of 0.43.

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

Insider Buying and Selling at KORU Medical Systems

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

Institutional Investors Weigh In On KORU Medical Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC raised its holdings in shares of KORU Medical Systems by 858.0% in the 2nd quarter. Squarepoint Ops LLC now owns 124,755 shares of the company's stock valued at $524,000 after purchasing an additional 111,733 shares in the last quarter. Bank of America Corp DE acquired a new position in KORU Medical Systems during the 2nd quarter valued at approximately $124,000. Meros Investment Management LP purchased a new position in KORU Medical Systems in the 2nd quarter worth $3,190,589. Algert Global LLC raised its stake in shares of KORU Medical Systems by 57.2% in the second quarter. Algert Global LLC now owns 22,737 shares of the company's stock worth $95,000 after purchasing an additional 8,270 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in KORU Medical Systems during the 2nd quarter worth approximately $642,000. Institutional investors own 58.60% of the company's stock.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc NASDAQ: KRMD develops, manufactures and sells portable infusion systems for the administration of specialty pharmaceuticals and biologic therapies. Its products are designed to support ambulatory, home-based and other non-hospital infusion settings, giving patients and caregivers alternatives to traditional stationary infusion equipment.

The company's product portfolio includes the FREEDOM Syringe Infusion System, including the FREEDOM60, FREEDOM35 and FREEDOMEDGE infusion pumps, along with related accessories and administration sets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.