Zacks Investment Research cut shares of Rockwell Medical, Inc. (NASDAQ:RMTI) from a buy rating to a hold rating in a report released on Saturday morning.
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 have also weighed in on the company. BidaskClub raised Rockwell Medical from a sell rating to a hold rating in a report on Wednesday, August 23rd. Ifs Securities initiated coverage on Rockwell Medical in a report on Monday, August 14th. They issued a strong-buy rating and a $11.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $8.88.
Rockwell Medical (NASDAQ:RMTI) opened at 6.06 on Friday. The firm has a 50 day moving average of $7.04 and a 200 day moving average of $7.23. Rockwell Medical has a 12-month low of $3.55 and a 12-month high of $8.98. The firm’s market capitalization is $313.54 million.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.04). Rockwell Medical had a negative return on equity of 42.22% and a negative net margin of 39.68%. The firm had revenue of $13.24 million during the quarter, compared to analysts’ expectations of $13.05 million. During the same period last year, the business posted ($0.11) EPS. The company’s revenue was down 1.6% compared to the same quarter last year. On average, analysts forecast that Rockwell Medical will post ($0.44) EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Rockwell Medical by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,080,843 shares of the company’s stock valued at $16,501,000 after buying an additional 90,786 shares in the last quarter. State Street Corp grew its holdings in Rockwell Medical by 7.4% during the 2nd quarter. State Street Corp now owns 903,142 shares of the company’s stock valued at $7,160,000 after buying an additional 62,094 shares in the last quarter. Northern Trust Corp grew its holdings in Rockwell Medical by 4.8% during the 2nd quarter. Northern Trust Corp now owns 618,045 shares of the company’s stock valued at $4,901,000 after buying an additional 28,482 shares in the last quarter. Geode Capital Management LLC grew its holdings in Rockwell Medical by 9.7% during the 1st quarter. Geode Capital Management LLC now owns 371,700 shares of the company’s stock valued at $2,326,000 after buying an additional 32,964 shares in the last quarter. Finally, Athos Capital Ltd purchased a new position in Rockwell Medical during the 3rd quarter valued at about $6,834,000. 21.35% of the stock is owned by institutional investors and hedge funds.
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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