Rockwell Medical, Inc. (NASDAQ:RMTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
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. “
Several other equities research analysts also recently issued reports on RMTI. BidaskClub downgraded Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Ifs Securities initiated coverage on Rockwell Medical in a research report on Monday, August 14th. They issued a “strong-buy” rating and a $11.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $8.88.
Rockwell Medical (RMTI) opened at 6.03 on Friday. The company has a 50 day moving average price of $7.06 and a 200 day moving average price of $7.23. The firm’s market cap is $311.99 million. Rockwell Medical has a 1-year low of $3.55 and a 1-year high of $8.98.
Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings results on Wednesday, August 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.04). The business had revenue of $13.24 million during the quarter, compared to analyst estimates of $13.05 million. Rockwell Medical had a negative net margin of 39.68% and a negative return on equity of 42.22%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.11) earnings per share. On average, equities research analysts forecast that Rockwell Medical will post ($0.44) earnings per share for the current year.
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Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Rockwell Medical by 4.9% in the first quarter. Vanguard Group Inc. now owns 1,990,057 shares of the company’s stock valued at $12,458,000 after purchasing an additional 93,589 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Rockwell Medical by 0.5% in the first quarter. Wells Fargo & Company MN now owns 115,738 shares of the company’s stock valued at $725,000 after purchasing an additional 550 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Rockwell Medical by 216.8% in the second quarter. GSA Capital Partners LLP now owns 76,566 shares of the company’s stock valued at $607,000 after purchasing an additional 52,400 shares during the last quarter. Balasa Dinverno & Foltz LLC grew its position in shares of Rockwell Medical by 5.8% in the second quarter. Balasa Dinverno & Foltz LLC now owns 54,300 shares of the company’s stock valued at $431,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Rockwell Medical by 9.7% in the first quarter. Geode Capital Management LLC now owns 371,700 shares of the company’s stock valued at $2,326,000 after purchasing an additional 32,964 shares during the last quarter. 21.35% of the stock is currently owned by institutional investors.
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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