KORU Medical Systems (NASDAQ:KRMD) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded KORU Medical Systems from Buy to Hold, adding to a mixed analyst picture that still includes several bullish ratings.
• The stock was down 5.4% and opened at $4.20, leaving it below both its 50-day and 200-day moving averages.
• KORU recently reported Q1 earnings that matched expectations at -$0.02 EPS and beat revenue estimates with $11.76 million in sales, while analysts currently see a modest full-year loss.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

KRMD has been the subject of a number of other reports. Weiss Ratings reissued a "sell (d-)" rating on shares of KORU Medical Systems in a research report on Tuesday, April 21st. Canaccord Genuity Group reaffirmed a "buy" rating and set a $6.00 price objective on shares of KORU Medical Systems in a research report on Friday, March 13th. B. Riley Financial increased their price target on KORU Medical Systems from $7.00 to $8.00 and gave the company a "buy" rating in a report on Friday, March 13th. Finally, Craig Hallum reiterated a "buy" rating and set a $7.00 price target on shares of KORU Medical Systems in a report on Tuesday, January 13th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $7.25.

KORU Medical Systems Trading Down 5.4%

NASDAQ:KRMD opened at $4.20 on Friday. KORU Medical Systems has a twelve month low of $2.63 and a twelve month high of $6.61. The company has a 50-day moving average of $4.34 and a 200-day moving average of $4.85. The firm has a market cap of $192.91 million, a price-to-earnings ratio of -84.00 and a beta of 0.43.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). KORU Medical Systems had a negative net margin of 5.27% and a negative return on equity of 13.61%. The company had revenue of $11.76 million during the quarter, compared to analysts' expectations of $11.28 million. On average, research analysts forecast that KORU Medical Systems will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On KORU Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of KRMD. Simcoe Capital LLC acquired a new stake in shares of KORU Medical Systems in the fourth quarter worth $3,921,000. Geode Capital Management LLC grew its stake in shares of KORU Medical Systems by 101.3% in the second quarter. Geode Capital Management LLC now owns 997,147 shares of the company's stock worth $3,571,000 after acquiring an additional 501,875 shares during the last quarter. Acuitas Investments LLC boosted its stake in KORU Medical Systems by 89.6% during the third quarter. Acuitas Investments LLC now owns 763,088 shares of the company's stock worth $2,923,000 after buying an additional 360,594 shares in the last quarter. First Light Asset Management LLC boosted its stake in KORU Medical Systems by 5.1% during the second quarter. First Light Asset Management LLC now owns 4,681,626 shares of the company's stock worth $16,760,000 after buying an additional 226,700 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in KORU Medical Systems by 189.5% during the first quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company's stock worth $617,000 after buying an additional 158,914 shares in the last quarter. Institutional investors and hedge funds own 58.60% of the company's stock.

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.

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