Wealth Enhancement Advisory Services LLC reduced its holdings in shares of CorMedix Inc (NASDAQ:CRMD - Free Report) by 40.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,045 shares of the company's stock after selling 21,139 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.05% of CorMedix worth $251,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Elliott Investment Management L.P. grew its stake in CorMedix by 85.1% during the fourth quarter. Elliott Investment Management L.P. now owns 2,870,632 shares of the company's stock valued at $23,252,000 after acquiring an additional 1,320,109 shares in the last quarter. Palisades Investment Partners LLC bought a new position in CorMedix in the 4th quarter valued at $2,949,000. J. Goldman & Co LP grew its position in shares of CorMedix by 221.1% during the 4th quarter. J. Goldman & Co LP now owns 457,320 shares of the company's stock valued at $3,704,000 after purchasing an additional 314,880 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of CorMedix by 10.1% in the fourth quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock worth $27,363,000 after purchasing an additional 309,514 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in shares of CorMedix by 1,398.2% in the fourth quarter. New York State Common Retirement Fund now owns 167,249 shares of the company's stock worth $1,355,000 after purchasing an additional 156,086 shares during the period. 34.18% of the stock is owned by institutional investors.
CorMedix Stock Performance
NASDAQ:CRMD traded down $0.36 during trading hours on Thursday, reaching $13.58. The company's stock had a trading volume of 1,311,882 shares, compared to its average volume of 1,229,011. The firm has a market capitalization of $921.00 million, a price-to-earnings ratio of 61.73 and a beta of 1.62. The firm has a 50-day simple moving average of $11.19 and a 200-day simple moving average of $10.17. CorMedix Inc has a 1 year low of $3.61 and a 1 year high of $15.38.
CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The firm had revenue of $39.08 million for the quarter, compared to analysts' expectations of $38.90 million. CorMedix had a return on equity of 22.57% and a net margin of 20.81%. During the same period last year, the firm earned ($0.25) earnings per share. Equities analysts anticipate that CorMedix Inc will post -0.32 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on CRMD. Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Needham & Company LLC lifted their price objective on shares of CorMedix from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. D. Boral Capital reissued a "buy" rating and issued a $15.00 target price on shares of CorMedix in a research note on Tuesday, May 6th. Wall Street Zen upgraded CorMedix from a "sell" rating to a "hold" rating in a research report on Tuesday, April 1st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $12.00 price target on shares of CorMedix in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $15.00.
Check Out Our Latest Analysis on CorMedix
About CorMedix
(
Free Report)
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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