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

Key Points

• KORU Medical Systems has a “Moderate Buy” consensus rating from five covering brokerages—four buys and one sell—with an average 12-month price target of $7.25.
• Insiders purchased 28,000 shares worth approximately $109,430 over the past quarter, while company insiders own 18.5% of the stock. Institutional investors own a further 58.6%.
• KRMD shares rose 0.9% to $4.11, remaining below the average analyst target and within a 52-week range of $3.20 to $6.61.

KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the five brokerages that are presently covering the stock, Marketbeat.com reports. One 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 brokers that have covered the stock in the last year is $7.25.

KRMD has been the topic of a number of recent analyst reports. Wall Street Zen upgraded KORU Medical Systems from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Weiss Ratings lowered KORU Medical Systems from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, July 15th.

Insider Transactions at KORU Medical Systems

In related news, insider Adam R. Kalbermatten bought 12,500 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $3.94 per share, for a total transaction of $49,250.00. Following the completion of the transaction, the insider directly owned 312,500 shares in the company, valued at $1,231,250. This trade represents a 4.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have acquired 28,000 shares of company stock worth $109,430 over the last quarter. Company insiders own 18.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KRMD. Simcoe Capital LLC purchased a new stake in KORU Medical Systems during the 4th quarter worth approximately $3,921,000. Royal Bank of Canada lifted its position in shares of KORU Medical Systems by 8,719.9% in the fourth quarter. Royal Bank of Canada now owns 133,004 shares of the company's stock valued at $773,000 after acquiring an additional 131,496 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of KORU Medical Systems by 189.5% in the first quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company's stock valued at $617,000 after acquiring an additional 158,914 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of KORU Medical Systems by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 47,264 shares of the company's stock worth $275,000 after acquiring an additional 20,720 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of KORU Medical Systems by 927.4% in the first quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company's stock worth $196,000 after acquiring an additional 69,758 shares during the last quarter. 58.60% of the stock is owned by hedge funds and other institutional investors.

KORU Medical Systems Trading Up 0.9%

Shares of KORU Medical Systems stock traded up $0.04 during trading hours on Thursday, reaching $4.11. The stock had a trading volume of 5,741 shares, compared to its average volume of 160,877. The stock's 50 day moving average is $4.12 and its 200 day moving average is $4.44. KORU Medical Systems has a twelve month low of $3.20 and a twelve month high of $6.61. The firm has a market capitalization of $188.54 million, a PE ratio of -82.10 and a beta of 0.41.

About KORU Medical Systems

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source