Rockwell Medical Inc. (NASDAQ:RMTI) Given Consensus Recommendation of “Hold” by Brokerages
Rockwell Medical Inc. (NASDAQ:RMTI) has received an average recommendation of “Hold” from the nine research firms that are covering the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $11.60.
A number of equities analysts recently weighed in on RMTI shares. BTIG Research started coverage on shares of Rockwell Medical in a report on Friday, August 19th. They set a “buy” rating and a $12.00 target price on the stock. Zacks Investment Research downgraded shares of Rockwell Medical from a “hold” rating to a “sell” rating in a report on Thursday, August 4th.
In other Rockwell Medical news, Director Kenneth L. Holt sold 9,520 shares of Rockwell Medical stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $6.37, for a total transaction of $60,642.40. Following the completion of the transaction, the director now directly owns 56,048 shares of the company’s stock, valued at $357,025.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth L. Holt sold 3,692 shares of Rockwell Medical stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $7.31, for a total transaction of $26,988.52. Following the transaction, the director now directly owns 63,475 shares of the company’s stock, valued at $464,002.25. The disclosure for this sale can be found here. Company insiders own 15.90% of the company’s stock.
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A number of institutional investors have recently added to or reduced their stakes in RMTI. Provident Investment Management Inc. boosted its position in Rockwell Medical by 4.0% in the first quarter. Provident Investment Management Inc. now owns 26,108 shares of the company’s stock worth $196,000 after buying an additional 1,000 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Rockwell Medical by 26.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 43,247 shares of the company’s stock worth $325,000 after buying an additional 9,178 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in Rockwell Medical by 8.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,490 shares of the company’s stock worth $199,000 after buying an additional 2,200 shares during the period. 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 during the period. Finally, State Street Corp boosted its position in Rockwell Medical by 4.0% in the first quarter. State Street Corp now owns 858,425 shares of the company’s stock worth $6,451,000 after buying an additional 33,175 shares during the period. 21.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Rockwell Medical (NASDAQ:RMTI) traded down 2.98% during midday trading on Wednesday, hitting $6.51. 335,330 shares of the company were exchanged. The company has a 50-day moving average of $7.21 and a 200 day moving average of $7.80. The company’s market capitalization is $335.43 million. Rockwell Medical has a one year low of $5.47 and a one year high of $13.50.
Rockwell Medical (NASDAQ:RMTI) last issued its earnings results on Monday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.01. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $13.86 million. Rockwell Medical had a negative return on equity of 28.90% and a negative net margin of 33.04%. Rockwell Medical’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, equities research analysts expect that Rockwell Medical will post ($0.37) earnings per share for the current fiscal year.
About Rockwell Medical
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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