KORU Medical Systems, Inc. (NASDAQ:KRMD) Receives $7.00 Consensus Price Target from Brokerages

KORU Medical Systems, Inc. (NASDAQ:KRMD) has received an average rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $7.00.

Several brokerages have recently issued reports on KRMD. Craig Hallum reiterated a “buy” rating and issued a $6.00 target price on shares of KORU Medical Systems in a research note on Thursday, August 6th. Wall Street Zen lowered shares of KORU Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 19th.

Insider Activity at KORU Medical Systems

In other KORU Medical Systems news, insider Adam R. Kalbermatten purchased 12,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $3.94 per share, for a total transaction of $49,250.00. Following the completion of the purchase, the insider directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 18.50% of the company’s stock.

Institutional Investors Weigh In On KORU Medical Systems

Several large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC raised its position in KORU Medical Systems by 927.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company’s stock worth $196,000 after buying an additional 69,758 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of KORU Medical Systems by 189.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company’s stock valued at $617,000 after acquiring an additional 158,914 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of KORU Medical Systems by 136.7% during the 1st quarter. Jane Street Group LLC now owns 163,137 shares of the company’s stock valued at $414,000 after acquiring an additional 94,214 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of KORU Medical Systems in the first quarter worth approximately $63,000. Finally, Geode Capital Management LLC grew its stake in shares of KORU Medical Systems by 101.3% in the second quarter. Geode Capital Management LLC now owns 997,147 shares of the company’s stock worth $3,571,000 after acquiring an additional 501,875 shares during the period. 58.60% of the stock is currently owned by institutional investors.

KORU Medical Systems Price Performance

Shares of NASDAQ:KRMD opened at $3.23 on Monday. The business has a fifty day moving average price of $3.90 and a 200-day moving average price of $4.14. The company has a market capitalization of $148.35 million, a PE ratio of -80.75 and a beta of 0.45. KORU Medical Systems has a 1-year low of $3.14 and a 1-year high of $6.61.

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

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.