Northern Trust Corp Purchases 64,243 Shares of CorMedix Inc. (NASDAQ:CRMD)

Northern Trust Corp raised its position in CorMedix Inc. (NASDAQ:CRMD - Free Report) by 14.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 511,565 shares of the company's stock after buying an additional 64,243 shares during the period. Northern Trust Corp owned about 0.84% of CorMedix worth $4,144,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in CorMedix by 10.1% in the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock valued at $27,363,000 after buying an additional 309,514 shares during the last quarter. Geode Capital Management LLC boosted its position in CorMedix by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company's stock valued at $11,284,000 after buying an additional 108,356 shares during the last quarter. JPMorgan Chase & Co. boosted its position in CorMedix by 40.8% in the 4th quarter. JPMorgan Chase & Co. now owns 273,218 shares of the company's stock valued at $2,213,000 after buying an additional 79,110 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in CorMedix by 11.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 174,418 shares of the company's stock valued at $1,413,000 after buying an additional 17,869 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in CorMedix by 1,398.2% in the 4th quarter. New York State Common Retirement Fund now owns 167,249 shares of the company's stock valued at $1,355,000 after buying an additional 156,086 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CRMD shares. D. Boral Capital restated a "buy" rating and issued a $15.00 price target on shares of CorMedix in a research report on Tuesday, May 6th. Needham & Company LLC raised their price target on CorMedix from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded CorMedix from a "sell" rating to a "hold" rating in a research report on Tuesday, April 1st. Leerink Partners started coverage on CorMedix in a research report on Friday, March 7th. They issued an "outperform" rating and a $18.00 price target on the stock. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $12.00 price target on shares of CorMedix in a research report on Wednesday, March 26th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CorMedix currently has an average rating of "Buy" and an average target price of $15.00.

CorMedix Trading Down 0.2%

Shares of CorMedix stock opened at $12.26 on Friday. The company has a market capitalization of $831.53 million, a PE ratio of -15.14 and a beta of 1.54. CorMedix Inc. has a 12 month low of $3.61 and a 12 month high of $13.85. The stock's fifty day simple moving average is $9.03 and its 200 day simple moving average is $9.81.

CorMedix (NASDAQ:CRMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. The business had revenue of $39.08 million for the quarter, compared to analyst estimates of $38.90 million. During the same period in the previous year, the business posted ($0.25) EPS. Analysts predict that CorMedix Inc. will post -0.32 EPS for the current fiscal year.

CorMedix Company Profile

CorMedix Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.

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