KORU Medical Systems, Inc. (NASDAQ:KRMD) Receives $6.50 Average PT from Brokerages

Shares of KORU Medical Systems, Inc. (NASDAQ:KRMD) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.50.

Several research analysts recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and set a $6.00 target price on shares of KORU Medical Systems in a research note on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of KORU Medical Systems in a research note on Tuesday. B. Riley Financial upped their price objective on shares of KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 13th. Wall Street Zen upgraded shares of KORU Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Finally, Craig Hallum reissued a “buy” rating and set a $7.00 target price on shares of KORU Medical Systems in a research report on Tuesday, January 13th.

KORU Medical Systems Stock Down 2.9%

NASDAQ:KRMD opened at $3.99 on Tuesday. The stock has a market capitalization of $185.97 million, a price-to-earnings ratio of -66.50 and a beta of 0.55. KORU Medical Systems has a 52 week low of $2.35 and a 52 week high of $6.61. The firm has a 50 day moving average of $4.44 and a 200 day moving average of $4.84.

KORU Medical Systems (NASDAQ:KRMD) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. KORU Medical Systems had a negative net margin of 6.41% and a negative return on equity of 15.90%. The business had revenue of $10.90 million for the quarter, compared to analyst estimates of $10.90 million. As a group, analysts expect that KORU Medical Systems will post -0.03 EPS for the current year.

Institutional Investors Weigh In On KORU Medical Systems

Large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC raised its stake 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 acquiring an additional 69,758 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of KORU Medical Systems by 189.5% in the first quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company’s stock valued at $617,000 after purchasing an additional 158,914 shares during the period. Jane Street Group LLC increased its holdings in shares of KORU Medical Systems by 136.7% in the first quarter. Jane Street Group LLC now owns 163,137 shares of the company’s stock valued at $414,000 after purchasing an additional 94,214 shares during the period. Acadian Asset Management LLC purchased a new position in shares of KORU Medical Systems in the first quarter worth about $63,000. Finally, Geode Capital Management LLC lifted its holdings in shares of KORU Medical Systems by 101.3% during the second quarter. Geode Capital Management LLC now owns 997,147 shares of the company’s stock worth $3,571,000 after purchasing an additional 501,875 shares during the period. 58.60% of the stock is 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.