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 note issued to 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 reissued a “buy” rating and set a $12.00 price target on shares of Rockwell Medical in a report on Thursday, September 22nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.00.
Rockwell Medical (NASDAQ:RMTI) opened at 6.51 on Wednesday. Rockwell Medical has a 52-week low of $5.47 and a 52-week high of $13.50. The company’s 50-day moving average price is $6.88 and its 200 day moving average price is $7.82. The stock’s market capitalization is $335.43 million.
Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by $0.01. The business earned $12.50 million during the quarter, compared to the consensus estimate of $13.86 million. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. Equities analysts forecast that Rockwell Medical will post ($0.37) EPS for the current fiscal year.
In related news, Director Kenneth L. Holt sold 9,520 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $6.37, for a total value of $60,642.40. Following the transaction, the director now directly owns 56,048 shares of the company’s stock, valued at approximately $357,025.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kenneth L. Holt sold 3,692 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $7.31, for a total value of $26,988.52. Following the completion of the transaction, the director now directly owns 63,475 shares in the company, valued at $464,002.25. The disclosure for this sale can be found here. 15.90% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Rockwell Medical by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,832,115 shares of the company’s stock worth $13,870,000 after buying an additional 83,440 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Rockwell Medical during the first quarter worth about $593,000. Palo Capital Inc. acquired a new stake in shares of Rockwell Medical during the second quarter worth about $372,000. Fox Run Management L.L.C. acquired a new stake in shares of Rockwell Medical during the second quarter worth about $236,000. Finally, UBS Group AG raised its stake in shares of Rockwell Medical by 45.8% in the first quarter. UBS Group AG now owns 68,900 shares of the company’s stock worth $517,000 after buying an additional 21,629 shares during the last quarter. 21.72% of the stock is currently owned by institutional investors.
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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