Zacks Investment Research Upgrades Rockwell Medical (RMTI) to “Hold”

Zacks Investment Research upgraded shares of Rockwell Medical (NASDAQ:RMTI) from a sell rating to a hold rating in a report issued on Thursday, November 30th.

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. “

Other analysts have also recently issued reports about the company. BidaskClub upgraded Rockwell Medical from a sell rating to a hold rating in a research report on Wednesday, August 23rd. Ifs Securities initiated coverage on Rockwell Medical in a report on Monday, August 14th. They set a strong-buy rating and a $11.00 target price on the stock.

Shares of Rockwell Medical (NASDAQ RMTI) traded down $0.01 during mid-day trading on Thursday, hitting $5.80. The stock had a trading volume of 333,700 shares, compared to its average volume of 250,998. Rockwell Medical has a one year low of $5.06 and a one year high of $8.98.

Rockwell Medical (NASDAQ:RMTI) last issued its earnings results on Wednesday, November 8th. The company reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates 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%. Rockwell Medical’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. equities research analysts anticipate that Rockwell Medical will post -0.44 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in Rockwell Medical by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 249,489 shares of the company’s stock valued at $2,136,000 after buying an additional 15,271 shares during the period. Athos Capital Ltd acquired a new stake in shares of Rockwell Medical during the third quarter worth about $6,834,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Rockwell Medical during the third quarter worth about $107,000. National Asset Management Inc. acquired a new stake in shares of Rockwell Medical during the second quarter worth about $203,000. Finally, State Street Corp raised its position in shares of Rockwell Medical by 7.4% during the second 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 during the period. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another site, it was stolen and reposted in violation of United States & international copyright & trademark law. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2017/12/11/zacks-investment-research-upgrades-rockwell-medical-rmti-to-hold.html.

Rockwell Medical Company Profile

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.

Get a free copy of the Zacks research report on Rockwell Medical (RMTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rockwell Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Medical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply