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

Key Points

• Analysts remain moderately bullish: Five brokerages give KORU Medical Systems a consensus “Moderate Buy” rating, with four buys and one sell and an average 12-month price target of $7.00.
• Shares traded near their yearly low: KRMD fell 0.6% to $3.19, compared with a 52-week range of $3.14 to $6.61.
• Quarterly results beat expectations: KORU reported earnings of $0.01 per share versus the expected loss of $0.02, while revenue of $12.05 million exceeded estimates of $11.62 million; however, the company remained unprofitable overall.

Shares of KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $7.00.

A number of research analysts have recently commented on KRMD shares. Weiss Ratings downgraded shares of KORU Medical Systems from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday. Craig Hallum reaffirmed a "buy" rating and issued a $6.00 target price on shares of KORU Medical Systems in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of KORU Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th.

KORU Medical Systems Trading Down 0.6%

Shares of KORU Medical Systems stock traded down $0.02 on Monday, reaching $3.19. 66,168 shares of the company were exchanged, compared to its average volume of 175,535. The company has a market capitalization of $146.53 million, a price-to-earnings ratio of -79.72 and a beta of 0.45. KORU Medical Systems has a one year low of $3.14 and a one year high of $6.61. The company has a 50-day moving average of $3.97 and a 200 day moving average of $4.20.

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 for the quarter, beating the consensus estimate 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 analysts' expectations of $11.62 million. Analysts predict that KORU Medical Systems will post -0.03 earnings per share for the current year.

Insider Transactions at KORU Medical Systems

In other KORU Medical Systems news, insider Adam R. Kalbermatten acquired 12,500 shares of the company's stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $3.94 per share, for a total transaction of $49,250.00. Following the completion of the purchase, the insider directly owned 312,500 shares of the company's stock, valued at approximately $1,231,250. This represents a 4.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Light Asset Management LLC raised its stake in KORU Medical Systems by 5.1% in the 2nd quarter. First Light Asset Management LLC now owns 4,681,626 shares of the company's stock valued at $16,760,000 after acquiring an additional 226,700 shares during the period. BlackRock Inc. bought a new position in KORU Medical Systems during the second quarter worth $11,039,000. Vanguard Group Inc. boosted its position in KORU Medical Systems by 2.9% during the third quarter. Vanguard Group Inc. now owns 2,145,772 shares of the company's stock worth $8,218,000 after purchasing an additional 60,109 shares during the period. Geode Capital Management LLC increased its holdings in shares of KORU Medical Systems by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,022,860 shares of the company's stock valued at $5,944,000 after purchasing an additional 16,062 shares during the last quarter. Finally, Meros Investment Management LP acquired a new position in shares of KORU Medical Systems in the second quarter valued at $3,190,589,000. 58.60% of the stock is currently owned by institutional investors.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria. Its products include the FREEDOM60 syringe infusion system, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing products.

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