Repro Med Systems (NASDAQ:KRMD) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Repro Med Systems (NASDAQ:KRMD) from a hold rating to a buy rating in a research report report published on Saturday, Zacks.com reports. Zacks Investment Research currently has $8.50 price target on the stock.
According to Zacks, “Repro-Med Systems Inc. is engaged in the design and manufacture of medical devices directing resources to the global markets for emergency medical products and infusion therapy. “
Several other analysts have also recently issued reports on the company. Canaccord Genuity reissued a buy rating and issued a $13.00 target price on shares of Repro Med Systems in a research note on Friday, August 14th. Piper Sandler lifted their price objective on Repro Med Systems from $12.00 to $14.00 and gave the company an overweight rating in a research report on Wednesday, August 5th. TheStreet cut Repro Med Systems from a b- rating to a c rating in a research report on Tuesday, August 25th. Finally, HC Wainwright began coverage on Repro Med Systems in a research report on Monday, August 10th. They set a buy rating and a $16.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $12.88.
Repro Med Systems (NASDAQ:KRMD) last posted its earnings results on Tuesday, August 4th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $7.71 million for the quarter, compared to analysts’ expectations of $6.50 million. Repro Med Systems had a positive return on equity of 11.65% and a negative net margin of 0.20%. As a group, equities analysts anticipate that Repro Med Systems will post 0.06 EPS for the current year.
In related news, Director Joseph M. Jr. Manko purchased 25,000 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were purchased at an average cost of $7.25 per share, with a total value of $181,250.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph M. Jr. Manko purchased 6,500 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was bought at an average cost of $7.46 per share, for a total transaction of $48,490.00. The disclosure for this purchase can be found here. Insiders own 39.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of KRMD. Horton Capital Management LLC bought a new stake in shares of Repro Med Systems in the 2nd quarter worth approximately $109,350,000. First Light Asset Management LLC bought a new stake in shares of Repro Med Systems in the 2nd quarter worth approximately $67,639,000. AWM Investment Company Inc. purchased a new position in Repro Med Systems in the 2nd quarter worth approximately $3,323,000. WASHINGTON TRUST Co purchased a new position in Repro Med Systems in the 2nd quarter worth approximately $1,764,000. Finally, EAM Investors LLC purchased a new position in Repro Med Systems in the 2nd quarter worth approximately $1,769,000. 65.79% of the stock is currently owned by hedge funds and other institutional investors.
Repro Med Systems Company Profile
Repro Med Systems, Inc, doing business as RMS Medical Products, designs, manufactures, and markets portable medical devices primarily for the ambulatory infusion market in the United States and internationally. The company 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 RMS precision flow rate tubing.
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