Rockwell Medical, Inc. (NASDAQ:RMTI) Downgraded by Zacks Investment Research to Sell
Rockwell Medical, Inc. (NASDAQ:RMTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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 equities analysts have also recently commented on RMTI. BidaskClub upgraded shares of Rockwell Medical from a “strong sell” rating to a “sell” rating in a research report on Friday. Ifs Securities began coverage on shares of Rockwell Medical in a research report on Monday. They issued a “strong-buy” rating and a $11.00 price objective on the stock. Finally, ValuEngine cut shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Four research analysts have rated the stock with a sell rating, one has issued a buy rating and one has issued a strong buy rating to the company. Rockwell Medical presently has an average rating of “Hold” and a consensus target price of $8.38.
Shares of Rockwell Medical (NASDAQ RMTI) opened at 6.55 on Tuesday. The firm’s 50-day moving average is $7.34 and its 200-day moving average is $6.92. The company’s market cap is $338.90 million. Rockwell Medical has a 12 month low of $3.55 and a 12 month high of $8.98.
Rockwell Medical (NASDAQ:RMTI) last issued its earnings results on Wednesday, August 9th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $13.24 million during the quarter, compared to analysts’ expectations of $13.05 million. Rockwell Medical had a negative return on equity of 42.22% and a negative net margin of 39.68%. Rockwell Medical’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) EPS. On average, equities research analysts predict that Rockwell Medical will post ($0.43) earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in Rockwell Medical by 1,725.7% in the second quarter. PNC Financial Services Group Inc. now owns 15,245 shares of the company’s stock worth $121,000 after buying an additional 14,410 shares during the last quarter. KCG Holdings Inc. purchased a new position in Rockwell Medical during the first quarter worth about $111,000. UBS Asset Management Americas Inc. boosted its position in Rockwell Medical by 38.3% in the second quarter. UBS Asset Management Americas Inc. now owns 19,843 shares of the company’s stock worth $157,000 after buying an additional 5,500 shares during the last quarter. Geneva Advisors LLC boosted its position in 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 last quarter. Finally, Private Advisor Group LLC purchased a new position in Rockwell Medical during the second quarter worth about $182,000. Hedge funds and other institutional investors own 20.52% of the company’s stock.
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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