ReWalk Robotics Ltd (RWLK) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS
ReWalk Robotics Ltd (NASDAQ:RWLK) released its quarterly earnings data on Thursday. The medical device company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.06, Morningstar.com reports. The firm had revenue of $2.01 million during the quarter, compared to the consensus estimate of $1.71 million. ReWalk Robotics had a negative return on equity of 478.84% and a negative net margin of 389.13%. The company’s quarterly revenue was up 145.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.64) earnings per share.
Shares of ReWalk Robotics (NASDAQ:RWLK) traded up 3.33% on Friday, hitting $1.55. The company had a trading volume of 392,772 shares. The stock’s market capitalization is $25.85 million. ReWalk Robotics has a 52 week low of $1.10 and a 52 week high of $7.85. The firm’s 50 day moving average price is $1.58 and its 200-day moving average price is $1.77.
RWLK has been the subject of several recent research reports. Zacks Investment Research upgraded ReWalk Robotics from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a report on Thursday, May 11th. Canaccord Genuity restated a “buy” rating on shares of ReWalk Robotics in a report on Monday, June 12th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $4.00 price objective (down previously from $7.00) on shares of ReWalk Robotics in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. ReWalk Robotics has a consensus rating of “Hold” and a consensus price target of $4.00.
In other news, Director Jeff Dykan sold 37,030 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $3.00, for a total value of $111,090.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Scp Vitalife Partners (Israel) sold 9,271 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $3.00, for a total value of $27,813.00. The disclosure for this sale can be found here. Insiders sold a total of 199,883 shares of company stock valued at $604,772 in the last three months. Corporate insiders own 13.70% of the company’s stock.
A hedge fund recently bought a new stake in ReWalk Robotics stock. Highbridge Capital Management LLC acquired a new position in shares of ReWalk Robotics Ltd (NASDAQ:RWLK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 500,000 shares of the medical device company’s stock, valued at approximately $1,400,000. Highbridge Capital Management LLC owned about 3.06% of ReWalk Robotics as of its most recent SEC filing. 4.46% of the stock is owned by institutional investors and hedge funds.
About ReWalk Robotics
ReWalk Robotics Ltd. is a medical device company. The Company is engaged in designing, developing and commercializing exoskeletons that allow individuals with mobility impairments or other medical conditions the ability to stand and walk once again. The Company offers ReWalk, which is an exoskeleton that uses its tilt-sensor technology and an on-board computer and motion sensors to drive motorized legs that power movement.
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