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

Key Points

• Analyst sentiment is moderately positive: Five brokerages give KORU Medical Systems a consensus “Moderate Buy” rating, with four buys and one sell; the average 12-month price target is $7.00.
• Insider and institutional interest increased: Insider Adam Kalbermatten bought 32,000 shares, while several hedge funds—including BlackRock—opened or expanded positions. Institutions and hedge funds own 58.6% of the stock.
• Shares remain near their annual low despite an earnings beat: KRMD recently traded at $3.16 versus a 12-month range of $3.06 to $6.61. Quarterly revenue reached $12.05 million and EPS of $0.01 exceeded estimates, though the company reported a negative net margin and analysts expect a full-year loss.

Shares of KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $7.00.

Several equities research analysts have weighed in on KRMD shares. Craig Hallum restated a "buy" rating and issued a $6.00 target price on shares of KORU Medical Systems in a research note on Thursday, August 6th. Weiss Ratings raised KORU Medical Systems from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. Finally, Wall Street Zen lowered KORU Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th.

Insider Transactions at KORU Medical Systems

In related news, insider Adam Kalbermatten purchased 32,000 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was acquired at an average price of $3.16 per share, with a total value of $101,120.00. Following the completion of the acquisition, the insider owned 394,017 shares in the company, valued at approximately $1,245,093.72. This represents a 8.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 18.50% of the company's stock.

Hedge Funds Weigh In On KORU Medical Systems

Several hedge funds have recently made changes to their positions in the company. Meros Investment Management LP purchased a new stake in KORU Medical Systems in the second quarter valued at approximately $3,190,589. BlackRock Inc. acquired a new stake in KORU Medical Systems during the 2nd quarter worth about $11,039,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in KORU Medical Systems during the second quarter valued at approximately $642,000. Algert Global LLC grew its stake 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, Landscape Capital Management L.L.C. purchased a new position in shares of KORU Medical Systems during the 2nd quarter valued at approximately $124,000. 58.60% of the stock is owned by institutional investors and hedge funds.

KORU Medical Systems Stock Performance

KRMD stock traded down $0.06 during trading on Friday, reaching $3.16. 38,976 shares of the company traded hands, compared to its average volume of 176,042. The business has a 50 day simple moving average of $3.58 and a 200 day simple moving average of $3.99. KORU Medical Systems has a 12 month low of $3.06 and a 12 month high of $6.61. The company has a market capitalization of $145.33 million, a price-to-earnings ratio of -79.10 and a beta of 0.43.

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

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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