KORU Medical Systems, Inc. (NASDAQ:KRMD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of KORU Medical Systems, Inc. (NASDAQ:KRMD) have received an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $7.25.

Several brokerages have recently commented on KRMD. Wall Street Zen upgraded shares of KORU Medical Systems from a “hold” rating to a “buy” rating in a research report on Saturday. B. Riley Financial upped their target price on shares of KORU Medical Systems from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Weiss Ratings raised KORU Medical Systems from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $6.00 price objective on shares of KORU Medical Systems in a research report on Friday, March 13th.

Insider Transactions at KORU Medical Systems

In other KORU Medical Systems news, insider Adam R. Kalbermatten bought 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $3.94 per share, with a total value of $49,250.00. Following the purchase, the insider owned 312,500 shares of the company’s stock, valued at $1,231,250. This trade represents a 4.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders purchased 28,000 shares of company stock worth $109,430. 18.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KORU Medical Systems

A number of institutional investors have recently added to or reduced their stakes in KRMD. Bank of America Corp DE lifted its holdings in shares of KORU Medical Systems by 36.0% in the first quarter. Bank of America Corp DE now owns 37,971 shares of the company’s stock worth $164,000 after buying an additional 10,045 shares in the last quarter. Royal Bank of Canada grew its stake in KORU Medical Systems by 77.3% during the first quarter. Royal Bank of Canada now owns 235,804 shares of the company’s stock valued at $1,019,000 after acquiring an additional 102,800 shares in the last quarter. Vivaldi Capital Management LP increased its holdings in KORU Medical Systems by 51.6% in the 1st quarter. Vivaldi Capital Management LP now owns 29,885 shares of the company’s stock valued at $129,000 after acquiring an additional 10,172 shares during the last quarter. Renaissance Technologies LLC bought a new stake in KORU Medical Systems in the 1st quarter valued at $198,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in KORU Medical Systems in the 1st quarter worth $79,000. 58.60% of the stock is owned by hedge funds and other institutional investors.

KORU Medical Systems Price Performance

NASDAQ KRMD remained flat at $4.49 on Friday. 116,470 shares of the company’s stock were exchanged, compared to its average volume of 161,213. KORU Medical Systems has a 12 month low of $2.91 and a 12 month high of $6.61. The firm has a market cap of $206.23 million, a price-to-earnings ratio of -89.80 and a beta of 0.41. The firm’s 50 day moving average price is $4.07 and its 200-day moving average price is $4.67.

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.