KORU Medical Systems, Inc. (NASDAQ:KRMD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of KORU Medical Systems, Inc. (NASDAQ:KRMD) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.25.

Several research firms have recently issued reports on KRMD. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price objective on shares of KORU Medical Systems in a report on Friday, March 13th. B. Riley Financial increased their target price on shares of KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Weiss Ratings raised KORU Medical Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded KORU Medical Systems from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th.

Insider Activity at KORU Medical Systems

In other news, insider Adam R. Kalbermatten acquired 12,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $3.94 per share, with a total value of $49,250.00. Following the acquisition, the insider 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 Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders purchased 28,000 shares of company stock valued at $109,430. 18.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in KORU Medical Systems by 52.1% in the third quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company’s stock valued at $39,000 after acquiring an additional 3,478 shares during the period. Lazard Asset Management LLC bought a new position in KORU Medical Systems during the second quarter worth about $59,000. Arrowstreet Capital Limited Partnership bought a new position in KORU Medical Systems during the first quarter worth about $79,000. Occudo Quantitative Strategies LP acquired a new stake in KORU Medical Systems during the fourth quarter valued at approximately $127,000. Finally, Invesco Ltd. acquired a new stake in KORU Medical Systems during the second quarter valued at approximately $80,000. 58.60% of the stock is owned by institutional investors.

KORU Medical Systems Stock Performance

Shares of KORU Medical Systems stock opened at $4.43 on Friday. The company’s fifty day simple moving average is $4.11 and its 200-day simple moving average is $4.63. The company has a market cap of $203.47 million, a price-to-earnings ratio of -88.60 and a beta of 0.41. KORU Medical Systems has a 1 year low of $2.91 and a 1 year high of $6.61.

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.