KORU Medical Systems (NASDAQ:KRMD) Upgraded to Strong-Buy at Zacks Research

KORU Medical Systems (NASDAQ:KRMD) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks reports.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen raised shares of KORU Medical Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Craig Hallum reaffirmed a “buy” rating and set a $6.00 price objective on shares of KORU Medical Systems in a report on Thursday, August 6th. Finally, Weiss Ratings lowered shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.00.

KORU Medical Systems Trading Down 2.0%

Shares of NASDAQ:KRMD opened at $2.96 on Thursday. The firm has a market capitalization of $135.96 million, a PE ratio of -74.00 and a beta of 0.39. KORU Medical Systems has a 1-year low of $2.86 and a 1-year high of $6.61. The business’s 50 day moving average is $3.38 and its 200-day moving average is $3.88.

KORU Medical Systems (NASDAQ:KRMD) last issued its earnings results on Wednesday, August 5th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $12.05 million during the quarter, compared to analyst estimates of $11.62 million. KORU Medical Systems had a negative return on equity of 10.63% and a negative net margin of 4.03%. On average, sell-side analysts predict that KORU Medical Systems will post -0.02 EPS for the current year.

Insider Activity at KORU Medical Systems

In related news, insider Adam Kalbermatten bought 32,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average price of $3.16 per share, for a total transaction of $101,120.00. Following the transaction, the insider directly owned 394,017 shares of the company’s stock, valued at $1,245,093.72. This represents a 8.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 18.50% of the stock is owned by company insiders.

Institutional Trading of KORU Medical Systems

Large investors have recently bought and sold shares of the stock. Meros Investment Management LP acquired a new position in KORU Medical Systems during the second quarter worth $3,190,589. BlackRock Inc. acquired a new stake in shares of KORU Medical Systems in the 2nd quarter valued at $11,039,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of KORU Medical Systems in the 2nd quarter worth about $642,000. Deutsche Bank AG bought a new stake in shares of KORU Medical Systems in the 2nd quarter worth about $183,000. Finally, Algert Global LLC grew its holdings in shares of KORU Medical Systems by 57.2% in the 2nd quarter. Algert Global LLC now owns 22,737 shares of the company’s stock worth $95,000 after purchasing an additional 8,270 shares during the last quarter. 58.60% of the stock is currently owned by institutional investors.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc (NASDAQ:KRMD) develops, manufactures and sells portable infusion systems for the administration of specialty pharmaceuticals and biologic therapies. Its products are designed to support ambulatory, home-based and other non-hospital infusion settings, giving patients and caregivers alternatives to traditional stationary infusion equipment.

The company’s product portfolio includes the FREEDOM Syringe Infusion System, including the FREEDOM60, FREEDOM35 and FREEDOMEDGE infusion pumps, along with related accessories and administration sets.