Rockwell Medical, Inc. (NASDAQ:RMTI) Stock Rating Lowered by BidaskClub
Rockwell Medical, Inc. (NASDAQ:RMTI) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine cut shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. Rockwell Medical has a consensus rating of “Hold” and a consensus price target of $7.50.
Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Tuesday, May 9th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). Rockwell Medical had a negative net margin of 36.35% and a negative return on equity of 36.36%. The business had revenue of $14.60 million for the quarter, compared to analysts’ expectations of $12.66 million. During the same period in the previous year, the firm posted ($0.10) EPS. The firm’s revenue was up 7.4% compared to the same quarter last year.
A number of large investors have recently modified their holdings of the company. Balasa Dinverno & Foltz LLC boosted its stake in shares of Rockwell Medical by 5.8% in the second quarter. Balasa Dinverno & Foltz LLC now owns 54,300 shares of the company’s stock valued at $431,000 after buying an additional 3,000 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of Rockwell Medical by 11.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 42,220 shares of the company’s stock valued at $264,000 after buying an additional 4,287 shares during the period. KCG Holdings Inc. acquired a new stake in shares of Rockwell Medical during the first quarter valued at approximately $111,000. Geode Capital Management LLC boosted its stake in shares of Rockwell Medical by 9.7% in the first quarter. Geode Capital Management LLC now owns 371,700 shares of the company’s stock valued at $2,326,000 after buying an additional 32,964 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Rockwell Medical by 4.9% in the first quarter. Vanguard Group Inc. now owns 1,990,057 shares of the company’s stock valued at $12,458,000 after buying an additional 93,589 shares during the period. 20.54% of the stock is currently 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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