Separately, Zacks Investment Research lowered Rockwell Medical from a hold rating to a sell rating in a research report on Thursday, August 4th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $11.00.
Shares of Rockwell Medical (NASDAQ:RMTI) opened at 6.38 on Thursday. The stock has a 50 day moving average of $7.08 and a 200-day moving average of $7.81. The stock’s market capitalization is $328.74 million. Rockwell Medical has a one year low of $5.47 and a one year high of $13.50.
Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results 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 company earned $12.50 million during the quarter, compared to analysts’ expectations of $13.86 million. Rockwell Medical had a negative return on equity of 28.90% and a negative net margin of 33.04%. Rockwell Medical’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. Equities analysts forecast that Rockwell Medical will post ($0.37) earnings per share for the current year.
In other Rockwell Medical news, Director Kenneth L. Holt sold 9,520 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $6.37, for a total transaction of $60,642.40. Following the completion of the sale, the director now directly owns 56,048 shares in the company, valued at approximately $357,025.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth L. Holt sold 8,075 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $6.81, for a total value of $54,990.75. Following the sale, the director now owns 46,858 shares of the company’s stock, valued at $319,102.98. The disclosure for this sale can be found here. Company insiders own 15.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group increased its stake in Rockwell Medical by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 17,286 shares of the company’s stock worth $130,000 after buying an additional 600 shares in the last quarter. Provident Investment Management Inc. increased its stake in Rockwell Medical by 4.0% in the first quarter. Provident Investment Management Inc. now owns 26,108 shares of the company’s stock worth $196,000 after buying an additional 1,000 shares in the last quarter. State Street Corp increased its stake in Rockwell Medical by 4.0% in the first quarter. State Street Corp now owns 858,425 shares of the company’s stock worth $6,451,000 after buying an additional 33,175 shares in the last quarter. UBS Group AG increased its stake in 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in Rockwell Medical by 0.8% in the first quarter. Geode Capital Management LLC now owns 307,440 shares of the company’s stock worth $2,308,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 21.72% 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.
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