Raymond James Financial Inc. Acquires Shares of 30,571 KORU Medical Systems, Inc. (NASDAQ:KRMD)

Raymond James Financial Inc. purchased a new position in shares of KORU Medical Systems, Inc. (NASDAQ:KRMD) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 30,571 shares of the company’s stock, valued at approximately $118,000.

A number of other institutional investors also recently modified their holdings of KRMD. XTX Topco Ltd bought a new stake in shares of KORU Medical Systems during the 3rd quarter worth $34,000. Y Intercept Hong Kong Ltd bought a new position in KORU Medical Systems in the fourth quarter worth $104,000. Calamos Advisors LLC bought a new stake in KORU Medical Systems in the fourth quarter worth $250,000. White Pine Capital LLC increased its stake in KORU Medical Systems by 25.6% during the 4th quarter. White Pine Capital LLC now owns 157,917 shares of the company’s stock valued at $608,000 after purchasing an additional 32,176 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of KORU Medical Systems by 6.5% in the third quarter. Geode Capital Management LLC now owns 462,128 shares of the company’s stock worth $1,262,000 after purchasing an additional 28,323 shares during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

KORU Medical Systems Stock Performance

Shares of KORU Medical Systems stock opened at $2.30 on Friday. The company has a 50 day moving average price of $3.24 and a 200 day moving average price of $3.39. KORU Medical Systems, Inc. has a 52 week low of $1.86 and a 52 week high of $5.05. The company has a quick ratio of 2.37, a current ratio of 2.99 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $105.70 million, a P/E ratio of -9.20 and a beta of 0.87.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KRMD shares. B. Riley raised shares of KORU Medical Systems to a “strong-buy” rating in a research report on Thursday, March 13th. Lake Street Capital raised their target price on shares of KORU Medical Systems from $4.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Craig Hallum lifted their price objective on shares of KORU Medical Systems from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Piper Sandler reiterated a “neutral” rating and set a $4.50 target price on shares of KORU Medical Systems in a research report on Friday, February 14th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $4.70.

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.