Zacks Investment Research Upgrades Rockwell Medical, Inc. (RMTI) to Hold
Rockwell Medical, Inc. (NASDAQ:RMTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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, ValuEngine cut shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd.
Shares of Rockwell Medical (NASDAQ:RMTI) traded up 0.25% during midday trading on Wednesday, reaching $7.88. 43,262 shares of the company traded hands. The stock’s market capitalization is $410.21 million. Rockwell Medical has a 12 month low of $3.55 and a 12 month high of $8.98. The company’s 50 day moving average is $7.50 and its 200-day moving average is $6.70.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). The firm had revenue of $14.60 million for the quarter, compared to analysts’ expectations of $12.66 million. Rockwell Medical had a negative net margin of 36.35% and a negative return on equity of 36.36%. Rockwell Medical’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) earnings per share. Equities research analysts forecast that Rockwell Medical will post ($0.39) earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the stock. KCG Holdings Inc. purchased a new stake in Rockwell Medical during the first quarter worth about $111,000. Geneva Advisors LLC raised its stake in shares of Rockwell Medical by 3.7% in the first quarter. Geneva Advisors LLC now owns 20,970 shares of the company’s stock worth $131,000 after buying an additional 750 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Rockwell Medical by 0.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,090 shares of the company’s stock worth $165,000 after buying an additional 100 shares during the period. American International Group Inc. raised its stake in shares of Rockwell Medical by 7.1% in the first quarter. American International Group Inc. now owns 29,509 shares of the company’s stock worth $185,000 after buying an additional 1,955 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised 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 worth $264,000 after buying an additional 4,287 shares during the period. Institutional investors own 20.66% of the company’s stock.
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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