KORU Medical Systems (NASDAQ:KRMD) Trading Up 0.7% - Still a Buy?

Key Points

• KORU Medical Systems' share price increased by 0.7% to $4.15, despite a significant decline in trading volume, down 58% from average levels.
• Analysts from Piper Sandler have reduced their price target on the stock to $3.50 and currently hold a "neutral" rating, although the overall consensus remains a "Buy" with a target price of $4.63.
• Institutional investors own 58.60% of KORU Medical Systems, with several adding to their stakes recently, indicating strong institutional interest in the company.

KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report)'s share price was up 0.7% during trading on Wednesday . The stock traded as high as $4.18 and last traded at $4.15. Approximately 54,688 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 129,679 shares. The stock had previously closed at $4.12.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price objective on shares of KORU Medical Systems from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $4.63.

KORU Medical Systems Stock Up 0.7%

The firm has a market cap of $191.90 million, a price-to-earnings ratio of -46.11 and a beta of 0.47. The business's 50 day moving average price is $3.57 and its 200 day moving average price is $3.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.91.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.04. KORU Medical Systems had a negative net margin of 12.24% and a negative return on equity of 26.77%. The business had revenue of $10.20 million for the quarter, compared to analysts' expectations of $9.46 million. On average, equities analysts forecast that KORU Medical Systems, Inc. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On KORU Medical Systems

Institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in KORU Medical Systems in the 2nd quarter valued at $30,000. Lazard Asset Management LLC acquired a new stake in KORU Medical Systems in the 2nd quarter valued at $59,000. Acadian Asset Management LLC acquired a new stake in KORU Medical Systems in the 1st quarter valued at $63,000. JPMorgan Chase & Co. grew its stake in KORU Medical Systems by 2,770.7% in the 4th quarter. JPMorgan Chase & Co. now owns 17,712 shares of the company's stock valued at $68,000 after acquiring an additional 17,095 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in KORU Medical Systems in the 2nd quarter valued at $73,000. 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.

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