Zacks Investment Research Lowers Rockwell Medical Inc. (RMTI) to Sell
Rockwell Medical Inc. (NASDAQ:RMTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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 assumed coverage on shares of Rockwell Medical in a research report on Friday, August 19th. They set a “buy” rating and a $12.00 target price for the company. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $11.00.
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Rockwell Medical (NASDAQ:RMTI) opened at 6.51 on Wednesday. Rockwell Medical has a 12 month low of $5.47 and a 12 month high of $13.50. The stock’s 50 day moving average price is $6.88 and its 200-day moving average price is $7.82. The stock’s market cap is $335.43 million.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $13.86 million. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. Rockwell Medical’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. Equities analysts expect that Rockwell Medical will post ($0.37) EPS for the current year.
In other Rockwell Medical news, Director Kenneth L. Holt sold 8,075 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $6.81, for a total value of $54,990.75. Following the completion of the transaction, the director now owns 46,858 shares in the company, valued at $319,102.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kenneth L. Holt sold 9,520 shares of the company’s 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 completion of the transaction, the director now owns 56,048 shares of the company’s stock, valued at approximately $357,025.76. The disclosure for this sale can be found here. 15.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Starfire Investment Advisers Inc. bought a new position in Rockwell Medical during the second quarter valued at $100,000. WealthTrust Axiom LLC bought a new position in Rockwell Medical during the second quarter valued at $100,000. Paloma Partners Management Co bought a new position in Rockwell Medical during the second quarter valued at $125,000. InterOcean Capital LLC increased 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 valued at $145,000 after buying an additional 550 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in Rockwell Medical by 37.8% in the second quarter. Rehmann Capital Advisory Group now owns 23,828 shares of the company’s stock valued at $180,000 after buying an additional 6,542 shares during the period. Hedge funds and other institutional investors own 21.72% of the company’s stock.
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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