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

Key Points

• Wall Street Zen downgraded KORU Medical Systems from “buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with a $7.00 price target.
• KORU reported quarterly EPS of $0.01, beating the expected loss of $0.02, while revenue of $12.05 million exceeded estimates of $11.62 million. Analysts expect a full-year EPS loss of $0.04.
• The stock opened at $3.55, near its 52-week low of $3.21 and below its 50-day and 200-day moving averages; insiders and institutional investors have continued accumulating shares.

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

A number of other research analysts have also issued reports on the stock. Craig Hallum restated a "buy" rating and issued a $6.00 target price on shares of KORU Medical Systems in a report on Thursday. Weiss Ratings upgraded shares of KORU Medical Systems from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $7.00.

KORU Medical Systems Stock Down 0.3%

NASDAQ KRMD opened at $3.55 on Friday. KORU Medical Systems has a fifty-two week low of $3.21 and a fifty-two week high of $6.61. The stock has a market cap of $163.05 million, a price-to-earnings ratio of -88.75 and a beta of 0.45. The business has a fifty day moving average of $4.10 and a 200-day moving average of $4.37.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $12.05 million for the quarter, compared to the consensus estimate of $11.62 million. KORU Medical Systems had a negative return on equity of 10.63% and a negative net margin of 4.03%. As a group, analysts anticipate that KORU Medical Systems will post -0.04 EPS for the current year.

Insider Activity at KORU Medical Systems

In other KORU Medical Systems news, insider Adam R. Kalbermatten acquired 12,500 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $3.94 per share, with a total value of $49,250.00. Following the completion of the transaction, the insider directly owned 312,500 shares in the company, valued at approximately $1,231,250. This trade represents a 4.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders acquired a total of 28,000 shares of company stock valued at $109,430 over the last ninety days. 18.50% of the stock is owned by insiders.

Institutional Trading of KORU Medical Systems

A number of hedge funds have recently added to or reduced their stakes in KRMD. BNP Paribas Financial Markets increased its stake in shares of KORU Medical Systems by 52.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company's stock valued at $39,000 after acquiring an additional 3,478 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of KORU Medical Systems in the second quarter worth approximately $59,000. Acadian Asset Management LLC purchased a new stake in KORU Medical Systems in the first quarter valued at approximately $63,000. Arrowstreet Capital Limited Partnership purchased a new stake in KORU Medical Systems in the first quarter valued at approximately $79,000. Finally, Invesco Ltd. acquired a new position in KORU Medical Systems during the second quarter worth approximately $80,000. 58.60% of the stock is owned by institutional investors and hedge funds.

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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