KORU Medical Systems (NASDAQ:KRMD) Stock Rating Reaffirmed as “Neutral” by Piper Sandler

KORU Medical Systems (NASDAQ:KRMD – Get Free Report)‘s stock had its “neutral” rating restated by analysts at Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They currently have a $4.50 price target on the stock, down from their previous price target of $5.00. Piper Sandler‘s price objective would indicate a potential upside of 30.93% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Research cut shares of KORU Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 30th. Weiss Ratings lowered shares of KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 29th. Wall Street Zen lowered shares of KORU Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday. Finally, 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. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, KORU Medical Systems has a consensus rating of “Hold” and a consensus price target of $6.50.

View Our Latest Analysis on KORU Medical Systems

KORU Medical Systems Stock Up 8.8%

KRMD stock opened at $3.44 on Wednesday. The firm has a market capitalization of $157.86 million, a PE ratio of -82.80 and a beta of 0.47. KORU Medical Systems has a twelve month low of $2.86 and a twelve month high of $6.61. The stock has a 50-day simple moving average of $3.12 and a two-hundred day simple moving average of $3.95.

KORU Medical Systems (NASDAQ:KRMD – Get Free Report) last announced its quarterly earnings results on Tuesday, November 10th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. KORU Medical Systems had a negative return on equity of 10.63% and a negative net margin of 4.03%. The firm had revenue of $11.57 million for the quarter, compared to analysts’ expectations of $11.33 million. On average, equities research analysts anticipate that KORU Medical Systems will post -0.02 EPS for the current fiscal year.

Insider Activity at KORU Medical Systems

In related news, insider Adam Kalbermatten acquired 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were bought at an average cost of $3.16 per share, for a total transaction of $101,120.00. Following the completion of the transaction, the insider owned 394,017 shares in the company, valued at approximately $1,245,093.72. This trade represents a 8.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 18.50% of the company’s stock.

Hedge Funds Weigh In On KORU Medical Systems

A number of large investors have recently added to or reduced their stakes in the business. White Pine Capital LLC bought a new stake in KORU Medical Systems in the third quarter valued at approximately $840,000. Squarepoint Ops LLC grew its holdings in shares of KORU Medical Systems by 858.0% in the second quarter. Squarepoint Ops LLC now owns 124,755 shares of the company’s stock worth $524,000 after purchasing an additional 111,733 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of KORU Medical Systems in the second quarter worth $124,000. Meros Investment Management LP purchased a new position in shares of KORU Medical Systems in the second quarter worth $3,190,589. Finally, Algert Global LLC raised its holdings in KORU Medical Systems by 57.2% during the 2nd quarter. Algert Global LLC now owns 22,737 shares of the company’s stock valued at $95,000 after buying an additional 8,270 shares during the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

KORU Medical Systems Company Profile

(Get Free Report)

KORU Medical Systems, Inc. develops, manufactures and markets portable infusion systems and related accessories for the home and alternate-site infusion markets. The company’s products are designed to support the controlled delivery of specialty drugs, including subcutaneous immunoglobulin (SCIG) therapies, through ambulatory infusion systems. KORU’s principal product platform is the Freedom Syringe Infusion System, which includes ambulatory syringe pumps such as the Freedom60, FreedomEdge and FreedomIQ, along with flow-control tubing sets and other disposable components.

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Analyst Recommendations for KORU Medical Systems (NASDAQ:KRMD)

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