Zacks Investment Research Lowers Rockwell Medical Inc. (RMTI) to Sell
According to Zacks, “Rockwell Medical Technologies, Inc. manufactures hemodialysis concentrates and dialysis kits, and sells, distributes and delivers such concentrates and dialysis kits, as well as other ancillary hemodialysis products, to hemodialysis providers in the United States. Hemodialysis is a process which is able to duplicate kidney function in patients whose kidneys have failed to function properly. “
Separately, BTIG Research started coverage on shares of Rockwell Medical in a report on Friday, August 19th. They issued a buy rating and a $12.00 price target on the stock. Four research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $11.00.
Rockwell Medical (NASDAQ:RMTI) traded down 1.719% during trading on Wednesday, reaching $5.946. 113,713 shares of the company were exchanged. The stock’s market capitalization is $306.37 million. Rockwell Medical has a 1-year low of $5.47 and a 1-year high of $13.10. The company’s 50-day moving average price is $6.81 and its 200-day moving average price is $7.80.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The company earned $12.50 million during the quarter, compared to the consensus estimate of $13.86 million. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. The business’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, equities analysts forecast that Rockwell Medical will post ($0.37) EPS for the current year.
In related news, Director Kenneth L. Holt sold 8,075 shares of Rockwell Medical stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $6.81, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth L. Holt sold 9,520 shares of Rockwell Medical stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $6.37, for a total transaction of $60,642.40. Following the transaction, the director now directly owns 56,048 shares of the company’s stock, valued at $357,025.76. The disclosure for this sale can be found here. 15.90% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors Inc. boosted its position in 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 in the last quarter. InterOcean Capital LLC boosted its position in 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 in the last quarter. Provident Investment Management Inc. boosted its position in Rockwell Medical by 3.8% in the second quarter. Provident Investment Management Inc. now owns 27,108 shares of the company’s stock worth $205,000 after buying an additional 1,000 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in 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 worth $204,000 after buying an additional 1,280 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Rockwell Medical by 0.8% in the first quarter. Geode Capital Management LLC now owns 307,440 shares of the company’s stock worth $2,308,000 after buying an additional 2,500 shares in the last quarter. 21.62% of the stock is owned by hedge funds and other 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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