KORU Medical Systems (NASDAQ:KRMD) Trading Up 3.6% - Time to Buy?

Key Points

• Shares rose 3.6% to $4.33 intraday on Friday with ~93,999 shares traded (down 28% vs. average); the stock still trades below its 50‑day ($4.48) and 200‑day ($4.84) moving averages.
• Analysts carry a consensus Moderate Buy rating with an average target of $6.50 (4 Buys, 1 Hold, 1 Sell), and several firms recently raised targets—B. Riley to $8, Craig Hallum to $7, Canaccord to $6.
• KORU has a $201.8M market cap and a negative PE (-72.17); it reported Q1 EPS of -$0.01 (beating estimates) on $10.9M revenue, and institutional/hedge funds own about 58.6% of the shares after recent buying.

KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report)'s share price was up 3.6% during trading on Friday . The stock traded as high as $4.38 and last traded at $4.33. Approximately 93,999 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 129,965 shares. The stock had previously closed at $4.18.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KRMD shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of KORU Medical Systems in a research note on Thursday, January 22nd. Canaccord Genuity Group reiterated a "buy" rating and issued a $6.00 price target on shares of KORU Medical Systems in a research note on Friday, March 13th. 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. B. Riley Financial increased their price target on shares of KORU Medical Systems from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Friday, March 13th. Finally, Wall Street Zen lowered shares of KORU Medical Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 14th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $6.50.

KORU Medical Systems Price Performance

The firm has a market capitalization of $201.82 million, a PE ratio of -72.17 and a beta of 0.55. The business's 50-day moving average price is $4.48 and its 200-day moving average price is $4.84.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. The business had revenue of $10.90 million for the quarter, compared to analyst estimates of $10.90 million. KORU Medical Systems had a negative net margin of 6.41% and a negative return on equity of 15.90%. Equities analysts forecast that KORU Medical Systems, Inc. will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On KORU Medical Systems

A number of hedge funds have recently modified their holdings of KRMD. Simcoe Capital LLC purchased a new position in shares of KORU Medical Systems during the fourth quarter worth approximately $3,921,000. Geode Capital Management LLC lifted its holdings in shares of KORU Medical Systems by 101.3% during the second quarter. Geode Capital Management LLC now owns 997,147 shares of the company's stock worth $3,571,000 after purchasing an additional 501,875 shares during the period. Acuitas Investments LLC lifted its holdings in shares of KORU Medical Systems by 89.6% during the third quarter. Acuitas Investments LLC now owns 763,088 shares of the company's stock worth $2,923,000 after purchasing an additional 360,594 shares during the period. First Light Asset Management LLC lifted its holdings in shares of KORU Medical Systems by 5.1% during the second quarter. First Light Asset Management LLC now owns 4,681,626 shares of the company's stock worth $16,760,000 after purchasing an additional 226,700 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of KORU Medical Systems by 189.5% during the first quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company's stock worth $617,000 after purchasing an additional 158,914 shares during the period. 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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