Wealth Enhancement Advisory Services LLC Has $251,000 Position in CorMedix Inc (NASDAQ:CRMD)

Wealth Enhancement Advisory Services LLC reduced its position in shares of CorMedix Inc (NASDAQ:CRMD - Free Report) by 40.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,045 shares of the company's stock after selling 21,139 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of CorMedix worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in CorMedix by 1.9% during the fourth quarter. Bank of America Corp DE now owns 60,115 shares of the company's stock worth $487,000 after purchasing an additional 1,124 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of CorMedix by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 171,978 shares of the company's stock worth $1,393,000 after buying an additional 1,679 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in CorMedix by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company's stock valued at $1,214,000 after buying an additional 3,221 shares in the last quarter. MetLife Investment Management LLC grew its position in CorMedix by 10.6% in the fourth quarter. MetLife Investment Management LLC now owns 39,415 shares of the company's stock valued at $319,000 after acquiring an additional 3,776 shares during the last quarter. Finally, Invesco Ltd. grew its position in CorMedix by 18.1% in the fourth quarter. Invesco Ltd. now owns 24,703 shares of the company's stock valued at $200,000 after acquiring an additional 3,784 shares during the last quarter. 34.18% of the stock is owned by institutional investors and hedge funds.

CorMedix Price Performance

Shares of CorMedix stock traded down $0.40 during trading on Tuesday, hitting $13.94. The company's stock had a trading volume of 1,126,293 shares, compared to its average volume of 1,224,541. The stock has a market cap of $945.41 million, a price-to-earnings ratio of 63.37 and a beta of 1.62. CorMedix Inc has a 52 week low of $3.61 and a 52 week high of $15.38. The stock has a 50-day moving average price of $11.06 and a two-hundred day moving average price of $10.14.

CorMedix (NASDAQ:CRMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. CorMedix had a return on equity of 22.57% and a net margin of 20.81%. The firm had revenue of $39.08 million for the quarter, compared to analyst estimates of $38.90 million. During the same quarter in the previous year, the company posted ($0.25) EPS. On average, equities analysts predict that CorMedix Inc will post -0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Leerink Partners initiated coverage on shares of CorMedix in a research note on Friday, March 7th. They issued an "outperform" rating and a $18.00 price target on the stock. Needham & Company LLC raised their target price on shares of CorMedix from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. Leerink Partnrs raised CorMedix to a "strong-buy" rating in a report on Friday, March 7th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $12.00 price objective on shares of CorMedix in a research report on Wednesday, March 26th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $15.00.

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.