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

KORU Medical Systems, Inc. (NASDAQ:KRMD) has received a consensus rating of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.25.

A number of brokerages recently weighed in on KRMD. Canaccord Genuity Group reaffirmed a “buy” rating and set a $6.00 price objective on shares of KORU Medical Systems in a research report on Friday, March 13th. Weiss Ratings downgraded KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 29th. B. Riley Financial raised their price objective on KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, Wall Street Zen cut KORU Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.

Insider Buying and Selling

In other KORU Medical Systems news, insider Adam R. Kalbermatten purchased 12,500 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $3.94 per share, for a total transaction of $49,250.00. Following the completion of the purchase, the insider owned 312,500 shares in the company, valued at $1,231,250. This represents a 4.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 28,000 shares of company stock valued at $109,430 in the last three months. Company insiders own 18.50% of the company’s stock.

Institutional Investors Weigh In On KORU Medical Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lakewood Asset Management LLC raised its stake in KORU Medical Systems by 2.8% in the fourth quarter. Lakewood Asset Management LLC now owns 73,945 shares of the company’s stock valued at $430,000 after buying an additional 2,000 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of KORU Medical Systems by 52.1% in the third quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company’s stock worth $39,000 after purchasing an additional 3,478 shares during the last quarter. Barclays PLC raised its stake in shares of KORU Medical Systems by 8.8% in the fourth quarter. Barclays PLC now owns 67,442 shares of the company’s stock worth $392,000 after purchasing an additional 5,457 shares during the last quarter. Invesco Ltd. raised its stake in shares of KORU Medical Systems by 24.8% in the fourth quarter. Invesco Ltd. now owns 27,873 shares of the company’s stock worth $162,000 after purchasing an additional 5,546 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of KORU Medical Systems by 26.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,036 shares of the company’s stock worth $158,000 after purchasing an additional 5,649 shares during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

KORU Medical Systems Price Performance

Shares of KRMD stock opened at $3.94 on Wednesday. KORU Medical Systems has a 1-year low of $2.91 and a 1-year high of $6.61. The stock’s 50-day moving average is $4.08 and its 200 day moving average is $4.81. The company has a market cap of $180.96 million, a P/E ratio of -78.80 and a beta of 0.43.

KORU Medical Systems Company Profile

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.