Raymond James Financial Inc. Purchases New Position in CorMedix Inc. (NASDAQ:CRMD)

Raymond James Financial Inc. purchased a new position in CorMedix Inc. (NASDAQ:CRMD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 115,661 shares of the company's stock, valued at approximately $937,000. Raymond James Financial Inc. owned approximately 0.19% of CorMedix at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CRMD. Vanguard Group Inc. grew its stake in CorMedix by 10.1% during the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock worth $27,363,000 after buying an additional 309,514 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CorMedix by 685.5% during the third quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company's stock valued at $1,568,000 after acquiring an additional 169,397 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of 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 purchasing an additional 156,086 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in CorMedix in the 4th quarter worth approximately $1,085,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in CorMedix in the 4th quarter worth approximately $1,021,000. 34.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on CRMD shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $12.00 price target on shares of CorMedix in a report on Wednesday, March 26th. StockNews.com upgraded CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st. Leerink Partnrs raised CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Leerink Partners initiated coverage on CorMedix in a report on Friday, March 7th. They issued an "outperform" rating and a $18.00 price objective on the stock. Finally, Needham & Company LLC raised their price objective on CorMedix from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, CorMedix presently has a consensus rating of "Buy" and a consensus target price of $15.00.

CorMedix Trading Down 3.1%

CRMD traded down $0.37 during midday trading on Friday, hitting $11.66. 4,579,383 shares of the company were exchanged, compared to its average volume of 1,134,917. The company's 50 day simple moving average is $8.73 and its 200 day simple moving average is $9.74. The firm has a market capitalization of $790.84 million, a price-to-earnings ratio of -14.39 and a beta of 1.54. CorMedix Inc. has a 1-year low of $3.61 and a 1-year high of $13.85.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. The company had revenue of $39.08 million for the quarter, compared to analyst estimates of $38.90 million. During the same period last year, the business earned ($0.25) earnings per share. On average, equities analysts anticipate that CorMedix Inc. will post -0.32 EPS for the current 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.