KORU Medical Systems (NASDAQ:KRMD) Issues Quarterly Earnings Results

KORU Medical Systems (NASDAQ:KRMD) released its quarterly earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03, FiscalAI reports. KORU Medical Systems had a negative net margin of 9.49% and a negative return on equity of 22.43%. The firm had revenue of $10.90 million during the quarter, compared to the consensus estimate of $10.90 million.

KORU Medical Systems Trading Down 4.4%

KRMD stock traded down $0.20 during mid-day trading on Thursday, reaching $4.31. The company’s stock had a trading volume of 136,871 shares, compared to its average volume of 196,024. KORU Medical Systems has a 12 month low of $1.86 and a 12 month high of $6.61. The company has a current ratio of 2.48, a quick ratio of 1.92 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average price is $5.16 and its 200 day moving average price is $4.80. The company has a market cap of $199.64 million, a price-to-earnings ratio of -53.88 and a beta of 0.47.

Institutional Trading of KORU Medical Systems

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position 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 period. Lazard Asset Management LLC acquired a new stake in KORU Medical Systems in the second quarter worth $59,000. Acadian Asset Management LLC acquired a new stake in KORU Medical Systems in the first quarter worth $63,000. Invesco Ltd. bought a new stake in KORU Medical Systems in the second quarter valued at $80,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in KORU Medical Systems in the second quarter valued at $83,000. Institutional investors and hedge funds own 58.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on KRMD shares. Canaccord Genuity Group raised their target price on KORU Medical Systems from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Lake Street Capital increased their price target on KORU Medical Systems from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Craig Hallum restated a “buy” rating and set a $7.00 price objective on shares of KORU Medical Systems in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KORU Medical Systems in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded KORU Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.13.

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.