KORU Medical Systems (NASDAQ:KRMD) Coverage Initiated at Lake Street Capital

Investment analysts at Lake Street Capital started coverage on shares of KORU Medical Systems (NASDAQ:KRMD) in a note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $4.00 price target on the stock. Lake Street Capital’s price objective would indicate a potential upside of 55.04% from the stock’s previous close.

KRMD has been the topic of a number of other research reports. B. Riley assumed coverage on shares of KORU Medical Systems in a research note on Thursday. They issued a “buy” rating and a $4.50 price target on the stock. Piper Sandler decreased their price target on shares of KORU Medical Systems from $4.50 to $3.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd.

KORU Medical Systems Stock Down 2.1 %

KORU Medical Systems stock opened at $2.58 on Thursday. The firm has a market capitalization of $117.75 million, a PE ratio of -15.18 and a beta of 0.37. The company’s 50-day moving average is $2.75 and its 200-day moving average is $3.52. KORU Medical Systems has a fifty-two week low of $2.13 and a fifty-two week high of $4.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.53 and a quick ratio of 4.23.

KORU Medical Systems (NASDAQ:KRMD) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $6.94 million for the quarter, compared to analyst estimates of $6.93 million. KORU Medical Systems had a negative net margin of 27.55% and a negative return on equity of 26.65%. Sell-side analysts anticipate that KORU Medical Systems will post -0.19 earnings per share for the current year.

Insider Buying and Selling at KORU Medical Systems

In other KORU Medical Systems news, Director Robert Cascella acquired 19,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was purchased at an average price of $2.61 per share, with a total value of $49,590.00. Following the acquisition, the director now directly owns 41,478 shares of the company’s stock, valued at approximately $108,257.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other KORU Medical Systems news, Director Robert Cascella acquired 19,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was purchased at an average price of $2.61 per share, with a total value of $49,590.00. Following the acquisition, the director now directly owns 41,478 shares of the company’s stock, valued at approximately $108,257.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph M. Jr. Manko acquired 10,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was acquired at an average cost of $2.65 per share, with a total value of $26,500.00. Following the acquisition, the director now directly owns 7,458,434 shares in the company, valued at $19,764,850.10. The disclosure for this purchase can be found here. Insiders acquired 44,272 shares of company stock valued at $114,828 in the last quarter. Company insiders own 25.60% of the company’s stock.

Hedge Funds Weigh In On KORU Medical Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRMD. BlackRock Inc. raised its stake in shares of KORU Medical Systems by 306.6% during the second quarter. BlackRock Inc. now owns 1,405,912 shares of the company’s stock valued at $4,850,000 after acquiring an additional 1,060,167 shares during the last quarter. First Light Asset Management LLC raised its stake in shares of KORU Medical Systems by 10.6% during the first quarter. First Light Asset Management LLC now owns 6,099,820 shares of the company’s stock valued at $17,445,000 after acquiring an additional 585,714 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of KORU Medical Systems by 109.9% during the second quarter. Geode Capital Management LLC now owns 711,643 shares of the company’s stock valued at $2,455,000 after acquiring an additional 372,628 shares during the last quarter. State Street Corp raised its stake in KORU Medical Systems by 319.4% during the second quarter. State Street Corp now owns 476,867 shares of the company’s stock worth $1,645,000 after buying an additional 363,177 shares during the last quarter. Finally, Northern Trust Corp raised its stake in KORU Medical Systems by 341.9% during the second quarter. Northern Trust Corp now owns 299,630 shares of the company’s stock worth $1,034,000 after buying an additional 231,831 shares during the last quarter. Institutional investors own 40.35% of the company’s stock.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc designs, manufactures, and markets portable medical devices primarily for the subcutaneous drug delivery market in the United States and internationally. It offers mechanical infusion product comprising the FREEDOM infusion systems that include the FREEDOM60 syringe driver, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing.