Rockwell Medical, Inc. (RMTI) Cut to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Rockwell Medical, Inc. (NASDAQ:RMTI) from a hold rating to a sell rating in a report released 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. “
A number of other research firms have also commented on RMTI. BidaskClub lowered Rockwell Medical from a hold rating to a sell rating in a report on Friday, July 28th. Ifs Securities began coverage on Rockwell Medical in a report on Monday, August 14th. They issued a strong-buy rating and a $11.00 target price for the company.
Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Wednesday, November 8th. The company reported ($0.10) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.10). The business had revenue of $14.63 million during the quarter, compared to analyst estimates of $13.33 million. Rockwell Medical had a negative return on equity of 46.63% and a negative net margin of 39.28%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) EPS. analysts expect that Rockwell Medical will post -0.44 EPS for the current year.
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Several institutional investors have recently bought and sold shares of RMTI. Athos Capital Ltd bought a new stake in shares of Rockwell Medical in the 3rd quarter worth $6,834,000. Vanguard Group Inc. increased its holdings in shares of Rockwell Medical by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 1,990,057 shares of the company’s stock worth $12,458,000 after purchasing an additional 93,589 shares in the last quarter. State Street Corp increased its holdings in shares of Rockwell Medical by 7.4% in the 2nd 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. GSA Capital Partners LLP increased its holdings in shares of Rockwell Medical by 216.8% in the 2nd quarter. GSA Capital Partners LLP now owns 76,566 shares of the company’s stock worth $607,000 after purchasing an additional 52,400 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Rockwell Medical by 9.7% in the 1st 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. 21.73% of the stock is owned by institutional investors and hedge funds.
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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