KORU Medical Systems, Inc. (NASDAQ:KRMD) Stock Has Consensus Target Price of $7.00 According to Analysts

Key Points

• Analyst sentiment is moderately bullish: Six analysts give KORU Medical Systems a consensus “Moderate Buy” rating, with an average 12-month price target of $7.00 versus the reported trading price of $2.95.
• Insider Adam Kalbermatten purchased 32,000 shares for approximately $101,120, while institutional investors—including BlackRock and Meros Investment Management—also established or increased positions.
• KORU’s latest quarterly results exceeded expectations, with $0.01 in adjusted EPS versus a projected loss of $0.02 and revenue of $12.05 million versus estimates of $11.62 million; however, the company remains unprofitable on a net-margin basis.

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

Several equities research analysts recently commented on the company. Wall Street Zen upgraded KORU Medical Systems from a "hold" rating to a "buy" rating in a report on Saturday, September 26th. Craig Hallum restated a "buy" rating and set a $6.00 target price on shares of KORU Medical Systems in a research note on Thursday, August 6th. Weiss Ratings cut 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 raised shares of KORU Medical Systems from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 1st.

Insider Buying and Selling at KORU Medical Systems

In related news, insider Adam Kalbermatten acquired 32,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were bought 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 directly owned 394,017 shares in the company, valued at approximately $1,245,093.72. This trade represents a 8.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.50% of the stock is owned by insiders.

Institutional Investors Weigh In On KORU Medical Systems

A number of hedge funds have recently added to or reduced their stakes in KRMD. BlackRock Inc. purchased a new position in shares of KORU Medical Systems in the 2nd quarter worth $11,039,000. Meros Investment Management LP purchased a new stake in KORU Medical Systems during the second quarter valued at $3,190,589. Royal Bank of Canada increased its position in KORU Medical Systems by 77.3% during the first 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 last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in KORU Medical Systems during the second quarter valued at $642,000. Finally, Squarepoint Ops LLC lifted its holdings in KORU Medical Systems by 858.0% in the second quarter. Squarepoint Ops LLC now owns 124,755 shares of the company's stock valued at $524,000 after acquiring an additional 111,733 shares during the period. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

KORU Medical Systems Trading Down 0.7%

KRMD traded down $0.02 during trading on Tuesday, hitting $2.95. 3,534 shares of the company's stock traded hands, compared to its average volume of 186,558. The company's 50 day simple moving average is $3.25 and its two-hundred day simple moving average is $3.82. KORU Medical Systems has a 12-month low of $2.86 and a 12-month high of $6.61. The stock has a market capitalization of $135.49 million, a price-to-earnings ratio of -73.75 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 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.03. The business 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%. On average, equities analysts expect that KORU Medical Systems will post -0.02 EPS for the current year.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc develops and manufactures portable infusion systems used to deliver specialty pharmaceuticals, biologic therapies and other fluids. The company's products are designed primarily for subcutaneous infusion, allowing certain treatments to be administered in home-care and ambulatory settings.

Its product portfolio includes the Freedom Syringe Infusion System, which comprises ambulatory infusion pumps such as the Freedom60, FreedomEdge and FreedomQ models, along with flow-control tubing sets, needles and related accessories.

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