Kenneth L. Holt Sells 8,075 Shares of Rockwell Medical Inc. (RMTI) Stock
Rockwell Medical Inc. (NASDAQ:RMTI) Director Kenneth L. Holt sold 8,075 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $6.81, for a total value of $54,990.75. Following the completion of the transaction, the director now directly owns 46,858 shares of the company’s stock, valued at approximately $319,102.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Rockwell Medical Inc. (NASDAQ:RMTI) opened at 6.81 on Friday. The stock’s market capitalization is $350.89 million. The company has a 50-day moving average of $7.15 and a 200 day moving average of $7.78. Rockwell Medical Inc. has a 12-month low of $5.47 and a 12-month high of $13.50.
Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. The company had revenue of $12.50 million for the quarter, compared to the consensus estimate of $13.86 million. During the same period in the previous year, the business earned ($0.05) EPS. Rockwell Medical’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts predict that Rockwell Medical Inc. will post ($0.37) earnings per share for the current year.
RMTI has been the subject of a number of recent analyst reports. BTIG Research initiated coverage on Rockwell Medical in a research report on Friday, August 19th. They issued a “buy” rating and a $12.00 target price for the company. Zacks Investment Research lowered Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $11.00.
A number of large investors have recently modified their holdings of the stock. Teachers Advisors Inc. increased its stake in shares of Rockwell Medical by 0.7% in the second quarter. Teachers Advisors Inc. now owns 74,948 shares of the company’s stock worth $567,000 after buying an additional 547 shares during the last quarter. InterOcean Capital LLC increased its stake in shares of Rockwell Medical by 3.0% in the second quarter. InterOcean Capital LLC now owns 19,165 shares of the company’s stock worth $145,000 after buying an additional 550 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in shares of Rockwell Medical by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 17,286 shares of the company’s stock valued at $130,000 after buying an additional 600 shares in the last quarter. Provident Investment Management Inc. increased its stake in shares of Rockwell Medical by 4.0% in the first quarter. Provident Investment Management Inc. now owns 26,108 shares of the company’s stock valued at $196,000 after buying an additional 1,000 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Rockwell Medical by 5.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 26,889 shares of the company’s stock valued at $204,000 after buying an additional 1,280 shares in the last quarter. 21.72% of the stock is currently owned by institutional investors.
Rockwell Medical Company Profile
Rockwell Medical, Inc (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process.
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