KORU Medical Systems (NASDAQ:KRMD) Raised to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded KORU Medical Systems from a "buy" to a "strong-buy," joining multiple firms that rate the stock positively; overall there are four Buy, one Hold and one Sell, giving a MarketBeat consensus of Moderate Buy with an average target price of $6.50.
• KRMD opened at $4.33 (52‑week range $2.18–$6.61) and has a market cap of about $201.8M, but the company remains unprofitable (net margin -6.41%, negative ROE); Q1 EPS was ($0.01) beating estimates and revenue was $10.9M, while analysts forecast FY EPS of -0.13.
• Institutional investors own roughly 58.6% of the shares, with several funds (Invesco, Price T. Rowe, Russell and RBC) notably increasing or establishing positions during the latest quarter.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday.

A number of other research firms have also weighed in on KRMD. Lake Street Capital upped their target price on shares of KORU Medical Systems from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Monday, December 22nd. B. Riley Financial upped their target price on shares of KORU Medical Systems from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. Canaccord Genuity Group restated a "buy" rating and set a $6.00 target price on shares of KORU Medical Systems in a research note on Friday, March 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of KORU Medical Systems in a research note on Thursday, January 22nd. Finally, Craig Hallum reiterated a "buy" rating and issued a $7.00 price target on shares of KORU Medical Systems in a research note on Tuesday, January 13th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $6.50.

KORU Medical Systems Stock Performance

KRMD stock opened at $4.33 on Friday. The company's 50 day moving average price is $4.48 and its 200 day moving average price is $4.84. KORU Medical Systems has a fifty-two week low of $2.18 and a fifty-two week high of $6.61. The firm has a market capitalization of $201.82 million, a price-to-earnings ratio of -72.17 and a beta of 0.55.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last released 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 net margin of 6.41% and a negative return on equity of 15.90%. The firm had revenue of $10.90 million for the quarter, compared to analyst estimates of $10.90 million. Equities analysts forecast that KORU Medical Systems will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On KORU Medical Systems

Several hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in KORU Medical Systems by 24.8% in the fourth quarter. Invesco Ltd. now owns 27,873 shares of the company's stock valued at $162,000 after purchasing an additional 5,546 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in KORU Medical Systems in the fourth quarter valued at approximately $127,000. Price T Rowe Associates Inc. MD increased its stake in KORU Medical Systems by 26.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,036 shares of the company's stock valued at $158,000 after purchasing an additional 5,649 shares during the last quarter. Russell Investments Group Ltd. increased its stake in KORU Medical Systems by 28.3% in the fourth quarter. Russell Investments Group Ltd. now owns 195,773 shares of the company's stock valued at $1,137,000 after purchasing an additional 43,215 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in 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 purchasing an additional 131,496 shares during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

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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