Rockwell Medical, Inc. (NASDAQ:RMTI) Posts Earnings Results, Misses Estimates By $0.04 EPS
Rockwell Medical, Inc. (NASDAQ:RMTI) posted its quarterly earnings data on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.04, Briefing.com reports. The business had revenue of $13.24 million during the quarter, compared to analysts’ expectations of $13.05 million. Rockwell Medical had a negative return on equity of 40.38% and a negative net margin of 39.68%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) EPS.
Shares of Rockwell Medical (RMTI) traded down 2.04% during trading on Friday, reaching $6.24. 125,348 shares of the company’s stock traded hands. The company has a 50 day moving average price of $7.46 and a 200-day moving average price of $6.88. Rockwell Medical has a one year low of $3.55 and a one year high of $8.98. The stock’s market cap is $322.86 million.
Large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in shares of Rockwell Medical by 0.5% in the first quarter. Wells Fargo & Company MN now owns 115,738 shares of the company’s stock worth $725,000 after buying an additional 550 shares during the period. Teachers Advisors LLC raised its position in shares of Rockwell Medical by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 78,948 shares of the company’s stock worth $517,000 after buying an additional 4,000 shares during the last quarter. Balasa Dinverno & Foltz LLC raised its position 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 worth $431,000 after buying an additional 3,000 shares during the last quarter. State Street Corp raised its position in shares of Rockwell Medical by 0.3% in the fourth quarter. State Street Corp now owns 878,759 shares of the company’s stock worth $5,754,000 after buying an additional 2,523 shares during the last quarter. Finally, Perkins Capital Management Inc. raised its position in shares of Rockwell Medical by 9.6% in the first quarter. Perkins Capital Management Inc. now owns 485,433 shares of the company’s stock worth $3,039,000 after buying an additional 42,683 shares during the last quarter. Institutional investors and hedge funds own 20.54% of the company’s stock.
A number of research firms recently issued reports on RMTI. ValuEngine downgraded shares of Rockwell Medical from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. BidaskClub downgraded shares of Rockwell Medical from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Zacks Investment Research raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Three equities research 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. The company has an average rating of “Hold” and a consensus price target of $7.50.
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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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