Rockwell Medical Inc. (RMTI) Receives Consensus Recommendation of “Hold” from Analysts
Rockwell Medical Inc. (NASDAQ:RMTI) has been given an average recommendation of “Hold” by the seven brokerages that are presently covering the company. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $8.00.
RMTI has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. BTIG Research initiated coverage on shares of Rockwell Medical in a research report on Friday, August 19th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Bank of America Corp. cut shares of Rockwell Medical from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $9.00 to $5.00 in a research report on Tuesday, November 8th.
In related news, Director Kenneth L. Holt sold 19,725 shares of Rockwell Medical stock in a transaction on Friday, November 11th. The shares were sold at an average price of $5.16, for a total transaction of $101,781.00. Following the sale, the director now directly owns 32,355 shares in the company, valued at approximately $166,951.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth L. Holt sold 8,075 shares of Rockwell Medical stock in a transaction on Monday, September 19th. The stock was sold at an average price of $6.81, for a total transaction of $54,990.75. Following the sale, the director now owns 46,858 shares in the company, valued at $319,102.98. The disclosure for this sale can be found here. Corporate insiders own 15.90% of the company’s stock.
A number of large investors have recently made changes to their positions in RMTI. Vanguard Group Inc. raised its position in Rockwell Medical by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,832,115 shares of the company’s stock worth $13,870,000 after buying an additional 83,440 shares in the last quarter. BlackRock Fund Advisors raised its position in Rockwell Medical by 6.4% in the third quarter. BlackRock Fund Advisors now owns 1,334,278 shares of the company’s stock worth $8,940,000 after buying an additional 80,799 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Rockwell Medical by 4.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,250,875 shares of the company’s stock worth $8,381,000 after buying an additional 47,678 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in Rockwell Medical by 123.8% in the third quarter. D. E. Shaw & Co. Inc. now owns 285,075 shares of the company’s stock worth $1,910,000 after buying an additional 157,711 shares in the last quarter. Finally, BlackRock Investment Management LLC raised its position in Rockwell Medical by 5.0% in the second quarter. BlackRock Investment Management LLC now owns 192,817 shares of the company’s stock worth $1,460,000 after buying an additional 9,250 shares in the last quarter. Hedge funds and other institutional investors own 21.31% of the company’s stock.
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Rockwell Medical (NASDAQ:RMTI) traded down 0.92% during midday trading on Wednesday, reaching $6.44. 185,202 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $5.92 and its 200-day moving average price is $7.29. The company’s market capitalization is $331.83 million. Rockwell Medical has a 1-year low of $3.55 and a 1-year high of $12.42.
Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. Rockwell Medical had a negative net margin of 37.98% and a negative return on equity of 33.60%. The company earned $12.81 million during the quarter, compared to analysts’ expectations of $15.40 million. During the same quarter last year, the company posted ($0.05) EPS. The firm’s revenue was down 10.9% compared to the same quarter last year. Equities analysts expect that Rockwell Medical will post ($0.39) EPS for the current year.
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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