KORU Medical Systems (NASDAQ:KRMD) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded KORU Medical Systems from “hold” to “strong buy,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $7.00.
• KORU shares opened at $2.96, near their 52-week low of $2.86, and remain below their 50-day and 200-day moving averages. The company recently exceeded quarterly earnings and revenue estimates, reporting $0.01 in EPS and $12.05 million in revenue.
• Insider ownership stands at 18.5%, with insider Adam Kalbermatten purchasing 32,000 shares. Institutional investors own 58.6% of the stock, including several funds that initiated or expanded positions during the second quarter.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Thursday, Zacks reports.

A number of other analysts have also recently weighed in on the stock. Wall Street Zen upgraded shares of KORU Medical Systems from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. Craig Hallum reiterated a "buy" rating and issued a $6.00 target price on shares of KORU Medical Systems in a research note on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of KORU Medical Systems from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, KORU Medical Systems currently has an average rating of "Moderate Buy" and an average price target of $7.00.

KORU Medical Systems Stock Performance

Shares of NASDAQ KRMD opened at $2.96 on Thursday. The business's 50-day simple moving average is $3.38 and its 200-day simple moving average is $3.88. KORU Medical Systems has a 52 week low of $2.86 and a 52 week high of $6.61. The firm has a market cap of $135.96 million, a price-to-earnings ratio of -74.00 and a beta of 0.39.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. The firm had revenue of $12.05 million during the quarter, compared to analyst estimates of $11.62 million. KORU Medical Systems had a negative return on equity of 10.63% and a negative net margin of 4.03%. As a group, equities research 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 KORU Medical Systems news, insider Adam Kalbermatten purchased 32,000 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were bought at an average cost of $3.16 per share, with a total value of $101,120.00. Following the transaction, the insider directly owned 394,017 shares in the company, valued at approximately $1,245,093.72. This represents a 8.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 18.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On KORU Medical Systems

Several hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC increased its position in KORU Medical Systems by 858.0% during the second quarter. Squarepoint Ops LLC now owns 124,755 shares of the company's stock worth $524,000 after acquiring an additional 111,733 shares during the period. Bank of America Corp DE bought a new stake in KORU Medical Systems in the 2nd quarter valued at $124,000. Meros Investment Management LP acquired a new stake in KORU Medical Systems in the 2nd quarter worth $3,190,589. Algert Global LLC increased its holdings in shares of KORU Medical Systems by 57.2% during the 2nd 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of KORU Medical Systems during the 2nd quarter worth about $642,000. 58.60% of the stock is owned by institutional investors.

About KORU Medical Systems

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.

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