Zacks Investment Research Upgrades Rockwell Medical (RMTI) to “Hold”
Rockwell Medical (NASDAQ:RMTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
A number of other research analysts have also weighed in on the company. BidaskClub raised Rockwell Medical from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Ifs Securities started coverage on Rockwell Medical in a report on Monday, August 14th. They set a “strong-buy” rating and a $11.00 target price for the company.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.10). Rockwell Medical had a negative return on equity of 46.63% and a negative net margin of 39.28%. The business had revenue of $14.63 million for the quarter, compared to analysts’ expectations of $13.33 million. During the same period in the previous year, the business posted ($0.09) EPS. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. equities analysts anticipate that Rockwell Medical will post -0.44 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Rockwell Medical by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,080,843 shares of the company’s stock valued at $16,501,000 after buying an additional 90,786 shares in the last quarter. State Street Corp grew its holdings in shares of Rockwell Medical by 7.4% during the second quarter. State Street Corp now owns 903,142 shares of the company’s stock worth $7,160,000 after purchasing an additional 62,094 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Rockwell Medical by 4.8% during the second quarter. Northern Trust Corp now owns 618,045 shares of the company’s stock worth $4,901,000 after purchasing an additional 28,482 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Rockwell Medical by 9.7% during the first quarter. Geode Capital Management LLC now owns 371,700 shares of the company’s stock worth $2,326,000 after purchasing an additional 32,964 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Rockwell Medical by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 249,489 shares of the company’s stock worth $2,136,000 after purchasing an additional 15,271 shares in the last quarter. 21.37% of the stock is owned by institutional investors and hedge funds.
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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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