Rockwell Medical, Inc. (RMTI) Stake Raised by Vanguard Group Inc.
Vanguard Group Inc. raised its position in Rockwell Medical, Inc. (NASDAQ:RMTI) by 4.9% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,990,057 shares of the company’s stock after buying an additional 93,589 shares during the period. Vanguard Group Inc. owned 3.86% of Rockwell Medical worth $12,458,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of RMTI. Teachers Advisors LLC boosted its stake in Rockwell Medical by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 78,948 shares of the company’s stock worth $517,000 after buying an additional 4,000 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Rockwell Medical by 0.5% in the first quarter. Wells Fargo & Company MN now owns 115,738 shares of the company’s stock worth $725,000 after buying an additional 550 shares during the last quarter. Geneva Advisors LLC boosted its stake 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. Balasa Dinverno & Foltz LLC boosted its stake in Rockwell Medical by 6.2% in the first quarter. Balasa Dinverno & Foltz LLC now owns 51,300 shares of the company’s stock worth $321,000 after buying an additional 3,000 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Rockwell Medical by 7.1% in the first quarter. American International Group Inc. now owns 29,509 shares of the company’s stock worth $185,000 after buying an additional 1,955 shares during the last quarter. 21.37% of the stock is owned by hedge funds and other institutional investors.
Shares of Rockwell Medical, Inc. (RMTI) traded down 1.51% during mid-day trading on Wednesday, reaching $6.52. The company’s stock had a trading volume of 36,943 shares. Rockwell Medical, Inc. has a 52 week low of $3.55 and a 52 week high of $8.98. The company’s 50-day moving average is $6.97 and its 200-day moving average is $6.94. The stock’s market capitalization is $337.34 million.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.04. Rockwell Medical had a negative net margin of 39.68% and a negative return on equity of 42.22%. The business had revenue of $13.24 million for the quarter, compared to the consensus estimate of $13.05 million. During the same period in the prior year, the company earned ($0.11) EPS. Rockwell Medical’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts predict that Rockwell Medical, Inc. will post ($0.44) EPS for the current year.
A number of analysts have recently weighed in on RMTI shares. ValuEngine cut Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Rockwell Medical from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub cut Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Ifs Securities started coverage on Rockwell Medical in a research report on Monday, August 14th. They issued a “strong-buy” rating and a $11.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $8.38.
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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