Craig Hallum Comments on Rockwell Medical Inc.’s FY2016 Earnings (RMTI)
Rockwell Medical Inc. (NASDAQ:RMTI) – Research analysts at Craig Hallum boosted their FY2016 earnings per share (EPS) estimates for shares of Rockwell Medical in a research report issued on Tuesday. Craig Hallum analyst C. Haff now forecasts that the firm will earn ($0.33) per share for the year, up from their prior forecast of ($0.35). Craig Hallum also issued estimates for Rockwell Medical’s Q4 2016 earnings at ($0.07) EPS and FY2017 earnings at ($0.15) EPS.
Other analysts have also issued reports about the company. BTIG Research began coverage on Rockwell Medical in a report on Friday, August 19th. They issued a “buy” rating and a $12.00 price objective on the stock. Zacks Investment Research lowered Rockwell Medical from a “hold” rating to a “sell” rating in a report on Wednesday, October 12th. Finally, Bank of America Corp. lowered Rockwell Medical from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $9.00 to $5.00 in a report on Tuesday. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $11.10.
Shares of Rockwell Medical (NASDAQ:RMTI) opened at 5.47 on Friday. The stock’s 50 day moving average price is $6.05 and its 200 day moving average price is $7.48. Rockwell Medical has a one year low of $3.55 and a one year high of $12.42. The stock’s market capitalization is $281.85 million.
Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The business had revenue of $12.81 million for the quarter, compared to analysts’ expectations of $15.40 million. Rockwell Medical had a negative return on equity of 33.60% and a negative net margin of 37.98%. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS.
In other news, Director Kenneth L. Holt sold 3,692 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 63,475 shares in the company, valued at $464,002.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth L. Holt sold 8,075 shares of the firm’s stock in a transaction that occurred on 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 approximately $319,102.98. The disclosure for this sale can be found here. 15.90% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in RMTI. Vanguard Group Inc. increased 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 during the last quarter. BlackRock Fund Advisors increased its position in shares of Rockwell Medical by 6.4% in the third quarter. BlackRock Fund Advisors now owns 1,334,278 shares of the company’s stock worth $8,940,000 after buying an additional 80,799 shares during the last quarter. A.R.T. Advisors LLC bought a new position in shares of Rockwell Medical during the first quarter worth approximately $593,000. Palo Capital Inc. bought a new position in shares of Rockwell Medical during the second quarter worth approximately $372,000. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Rockwell Medical by 4.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,250,875 shares of the company’s stock worth $8,381,000 after buying an additional 47,678 shares during the last quarter. Institutional investors and hedge funds own 21.32% 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.
Receive News & Stock Ratings for Rockwell Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Medical Inc. and related stocks with our FREE daily email newsletter.