210,831 Shares in CorMedix Inc $CRMD Acquired by Del Sette Capital Management LLC

Key Points

• Del Sette Capital Management acquired a new position of 210,831 shares of CorMedix in 4Q (~$2.45M), making up about 1.5% of the fund's portfolio and representing roughly 0.27% of the company.
• CorMedix reported Q EPS of $0.16 versus a $0.86 consensus (a miss) but delivered $128.6M in revenue—beating estimates and rising ~312% year-over-year—with strong net margin and ROE.
• The board authorized a $75 million share buyback (up to 12.3% of shares), and analysts maintain a "Moderate Buy" consensus with an average price target of $15.

Del Sette Capital Management LLC acquired a new position in shares of CorMedix Inc (NASDAQ:CRMD - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 210,831 shares of the company's stock, valued at approximately $2,452,000. CorMedix comprises about 1.5% of Del Sette Capital Management LLC's investment portfolio, making the stock its 24th largest holding. Del Sette Capital Management LLC owned 0.27% of CorMedix as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in shares of CorMedix by 22.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company's stock worth $81,000 after purchasing an additional 1,190 shares during the last quarter. Palisades Investment Partners LLC raised its position in shares of CorMedix by 0.3% during the 3rd quarter. Palisades Investment Partners LLC now owns 564,106 shares of the company's stock worth $6,561,000 after purchasing an additional 1,579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CorMedix by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company's stock worth $222,000 after purchasing an additional 1,631 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of CorMedix by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,540 shares of the company's stock worth $310,000 after purchasing an additional 1,707 shares during the last quarter. Finally, Texas Yale Capital Corp. raised its position in shares of CorMedix by 9.1% during the 3rd quarter. Texas Yale Capital Corp. now owns 24,000 shares of the company's stock worth $279,000 after purchasing an additional 2,000 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors and hedge funds.

CorMedix Stock Up 2.6%

Shares of NASDAQ CRMD opened at $7.79 on Friday. CorMedix Inc has a 52-week low of $6.13 and a 52-week high of $17.43. The firm has a fifty day moving average of $6.98 and a 200-day moving average of $8.88. The stock has a market capitalization of $615.80 million, a PE ratio of 3.90 and a beta of 1.46. The company has a quick ratio of 1.94, a current ratio of 2.11 and a debt-to-equity ratio of 0.36.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings data on Thursday, March 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.70). CorMedix had a net margin of 52.31% and a return on equity of 52.30%. The company had revenue of $128.62 million for the quarter, compared to analysts' expectations of $127.02 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm's quarterly revenue was up 312.1% on a year-over-year basis. On average, analysts anticipate that CorMedix Inc will post 0.44 EPS for the current year.

CorMedix announced that its Board of Directors has initiated a share buyback program on Monday, February 2nd that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to buy up to 12.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citizens Jmp reiterated a "market outperform" rating and issued a $19.00 price target on shares of CorMedix in a report on Tuesday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $14.00 price target (up from $13.00) on shares of CorMedix in a report on Tuesday. D. Boral Capital reiterated a "buy" rating and issued a $14.00 price target on shares of CorMedix in a report on Monday, April 27th. Truist Financial set a $16.00 price target on CorMedix in a report on Thursday, January 8th. Finally, Zacks Research downgraded CorMedix from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 10th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

CorMedix Company Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company's lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.

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