KORU Medical Systems (NASDAQ:KRMD) Stock Price Up 2.1% - Still a Buy?

Key Points

• KORU Medical Systems (NASDAQ:KRMD) shares rose 2.1% to a last-traded price of $3.48, with a total volume of around 101,433 shares.
• Piper Sandler has downgraded the stock's target price from $4.50 to $3.50 while maintaining a "neutral" rating, although the consensus rating remains a "Buy" with an average target of $4.63.
• For the latest quarter, KORU Medical reported a loss of ($0.03) earnings per share, which was below analysts' expectations, despite revenue exceeding forecasts at $9.64 million.

Shares of KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report) shot up 2.1% during mid-day trading on Tuesday . The stock traded as high as $3.51 and last traded at $3.48. 101,433 shares traded hands during trading, a decline of 30% from the average session volume of 144,819 shares. The stock had previously closed at $3.41.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their price objective on shares of KORU Medical Systems from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $4.63.

KORU Medical Systems Stock Up 0.3%

The company has a quick ratio of 2.02, a current ratio of 2.44 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $161.03 million, a PE ratio of -31.73 and a beta of 0.52. The company's fifty day simple moving average is $3.27 and its 200 day simple moving average is $3.26.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). KORU Medical Systems had a negative return on equity of 30.43% and a negative net margin of 15.09%. The company had revenue of $9.64 million during the quarter, compared to the consensus estimate of $8.86 million. Analysts anticipate that KORU Medical Systems, Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of KORU Medical Systems

Hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC boosted its position in shares of KORU Medical Systems by 5.7% during the fourth quarter. First Light Asset Management LLC now owns 5,915,434 shares of the company's stock worth $22,774,000 after acquiring an additional 316,509 shares during the last quarter. Topline Capital Management LLC purchased a new position in shares of KORU Medical Systems during the 4th quarter valued at approximately $16,660,000. Millennium Management LLC grew its holdings in KORU Medical Systems by 4.5% in the fourth quarter. Millennium Management LLC now owns 283,710 shares of the company's stock valued at $1,092,000 after purchasing an additional 12,187 shares during the period. Goldman Sachs Group Inc. increased its stake in KORU Medical Systems by 189.5% during the 1st 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. Finally, Russell Investments Group Ltd. boosted its position in KORU Medical Systems by 220.5% during the first quarter. Russell Investments Group Ltd. now owns 214,908 shares of the company's stock worth $546,000 after acquiring an additional 147,857 shares during the last quarter. Hedge funds and other 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.