KORU Medical Systems (NASDAQ:KRMD) Lowered to Buy Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded KORU Medical Systems from "strong-buy" to "buy"; the stock's consensus is a Moderate Buy (four buys, one hold, one sell) with an average price target of $6.50.
• KORU reported Q EPS of ($0.01) (beating estimates by $0.01) and revenue of $10.9M in line with expectations, but remains unprofitable (negative net margin 6.41%, negative ROE 15.9%) and trades around $3.96 with a ~$185M market cap, well below the average target.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Sunday.

Several other research firms have also recently issued reports on KRMD. Weiss Ratings reiterated a "sell (d-)" rating on shares of KORU Medical Systems in a research report on Tuesday. B. Riley Financial boosted their target price on shares of KORU Medical Systems from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, March 13th. Craig Hallum reaffirmed a "buy" rating and set a $7.00 target price on shares of KORU Medical Systems in a research note on Tuesday, January 13th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $6.00 price target on shares of KORU Medical Systems in a report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.50.

KORU Medical Systems Stock Performance

NASDAQ:KRMD opened at $3.96 on Friday. The business's fifty day moving average is $4.43 and its 200 day moving average is $4.85. The firm has a market cap of $184.58 million, a price-to-earnings ratio of -66.00 and a beta of 0.55. KORU Medical Systems has a 52-week low of $2.35 and a 52-week high of $6.61.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last issued its earnings results on Thursday, March 12th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. KORU Medical Systems had a negative return on equity of 15.90% and a negative net margin of 6.41%.The business had revenue of $10.90 million during the quarter, compared to analyst estimates of $10.90 million. Equities analysts predict that KORU Medical Systems will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On KORU Medical Systems

Several hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its position in shares of KORU Medical Systems by 52.1% during the third quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company's stock worth $39,000 after purchasing an additional 3,478 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of KORU Medical Systems in the second quarter worth about $59,000. Acadian Asset Management LLC bought a new position in shares of KORU Medical Systems in the first quarter worth about $63,000. Invesco Ltd. purchased a new position in KORU Medical Systems in the 2nd quarter worth about $80,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in KORU Medical Systems in the 2nd quarter worth about $83,000. Institutional investors 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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