California State Teachers Retirement System cut its stake in shares of Rockwell Medical Inc. (NASDAQ:RMTI) by 5.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 100,477 shares of the company’s stock after selling 5,992 shares during the period. California State Teachers Retirement System owned about 0.20% of Rockwell Medical worth $761,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in RMTI. Starfire Investment Advisers Inc. bought a new stake in Rockwell Medical during the second quarter valued at $100,000. WealthTrust Axiom LLC bought a new stake in Rockwell Medical during the second quarter valued at $100,000. Rehmann Capital Advisory Group boosted 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 valued at $130,000 after buying an additional 600 shares during the period. Provident Investment Management Inc. boosted 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 valued at $196,000 after buying an additional 1,000 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Rockwell Medical during the second quarter valued at $236,000. Institutional investors and hedge funds own 21.72% of the company’s stock.
Shares of Rockwell Medical Inc. (NASDAQ:RMTI) traded up 3.72% during trading on Friday, reaching $6.70. 339,741 shares of the company were exchanged. Rockwell Medical Inc. has a 1-year low of $5.47 and a 1-year high of $13.50. The firm’s market capitalization is $345.22 million. The firm’s 50 day moving average is $7.00 and its 200 day moving average is $7.79.
Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The firm earned $12.50 million during the quarter, compared to analysts’ expectations of $13.86 million. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. Rockwell Medical’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) EPS. On average, equities analysts anticipate that Rockwell Medical Inc. will post ($0.37) EPS for the current fiscal year.
Several analysts recently weighed in on the stock. BTIG Research reiterated a “buy” rating and issued a $12.00 price target on shares of Rockwell Medical in a report on Thursday, September 22nd. Zacks Investment Research upgraded shares of Rockwell Medical from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.00.
In other Rockwell Medical news, Director Kenneth L. Holt sold 9,520 shares of the company’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 sale, the director now owns 56,048 shares in the company, valued at approximately $357,025.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth L. Holt sold 8,075 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was 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 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 corporate insiders.
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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