KORU Medical Systems (NASDAQ:KRMD) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of KORU Medical Systems (NASDAQ:KRMD) from a buy rating to a hold rating in a report published on Saturday morning.

Several other research analysts have also recently weighed in on KRMD. Weiss Ratings raised shares of KORU Medical Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 30th. Craig Hallum restated a “buy” rating and set a $6.00 price objective on shares of KORU Medical Systems in a research report on Thursday. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.00.

KORU Medical Systems Stock Performance

Shares of KORU Medical Systems stock opened at $3.40 on Friday. KORU Medical Systems has a one year low of $3.21 and a one year high of $6.61. The company has a market cap of $156.16 million, a price-to-earnings ratio of -85.00 and a beta of 0.45. The business’s 50 day moving average price is $4.09 and its 200 day moving average price is $4.35.

KORU Medical Systems (NASDAQ:KRMD) last issued its earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. KORU Medical Systems had a negative return on equity of 10.63% and a negative net margin of 4.03%.The company had revenue of $12.05 million during the quarter, compared to analysts’ expectations of $11.62 million. On average, analysts predict that KORU Medical Systems will post -0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Adam R. Kalbermatten purchased 12,500 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $3.94 per share, for a total transaction of $49,250.00. Following the completion of the transaction, the insider directly owned 312,500 shares in the company, valued at approximately $1,231,250. The trade was a 4.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought a total of 28,000 shares of company stock worth $109,430 over the last ninety days. Company insiders own 18.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of KORU Medical Systems by 52.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company’s stock valued at $39,000 after buying an additional 3,478 shares during the period. Lazard Asset Management LLC purchased a new position in KORU Medical Systems during the 2nd quarter valued at about $59,000. Acadian Asset Management LLC acquired a new position in KORU Medical Systems in the 1st quarter valued at about $63,000. Arrowstreet Capital Limited Partnership acquired a new position in KORU Medical Systems in the 1st quarter valued at about $79,000. Finally, Invesco Ltd. purchased a new stake in KORU Medical Systems during the second quarter worth about $80,000. 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.