Swiss National Bank increased its position in Rockwell Medical Inc. (NASDAQ:RMTI) by 6.4% during the second quarter, Holdings Channel reports. The institutional investor owned 93,100 shares of the company’s stock after buying an additional 5,600 shares during the period. Swiss National Bank owned 0.18% of Rockwell Medical worth $705,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of RMTI. Geode Capital Management LLC raised its stake in shares of 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. A.R.T. Advisors LLC bought a new stake in shares of Rockwell Medical during the first quarter worth $593,000. UBS Group AG raised its stake in shares of 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. Palo Capital Inc. bought a new stake in shares of Rockwell Medical during the second quarter worth $372,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Rockwell Medical by 26.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 43,247 shares of the company’s stock worth $325,000 after buying an additional 9,178 shares in the last quarter. 21.72% of the stock is owned by institutional investors.
Rockwell Medical Inc. (NASDAQ:RMTI) traded down 8.05% during mid-day trading on Tuesday, reaching $6.28. 230,000 shares of the company traded hands. Rockwell Medical Inc. has a one year low of $5.47 and a one year high of $13.50. The firm’s market cap is $323.58 million. The stock’s 50-day moving average price is $6.90 and its 200-day moving average price is $7.83.
Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $12.50 million for the quarter, compared to the consensus estimate 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 was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. Analysts forecast that Rockwell Medical Inc. will post ($0.37) earnings per share for the current fiscal year.
A number of analysts have recently weighed in on RMTI shares. Zacks Investment Research lowered shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. BTIG Research started coverage on shares of Rockwell Medical in a research note on Friday, August 19th. They issued a “buy” rating and a $12.00 price target for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Rockwell Medical presently has a consensus rating of “Hold” and a consensus target price of $11.00.
In related news, Director Kenneth L. Holt sold 9,520 shares of the stock in a transaction dated Thursday, August 25th. The shares were 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 owns 56,048 shares in the company, valued at approximately $357,025.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth L. Holt sold 8,075 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $6.81, for a total transaction of $54,990.75. Following the sale, the director now owns 46,858 shares of the company’s stock, valued at approximately $319,102.98. The disclosure for this sale can be found here. Insiders own 15.90% 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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