Rockwell Medical, Inc. (RMTI) Rating Increased to Hold at Zacks Investment Research

Rockwell Medical, Inc. (NASDAQ:RMTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

A number of other analysts have also commented on the company. BidaskClub upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Ifs Securities started coverage on Rockwell Medical in a report on Monday, August 14th. They set a “strong-buy” rating and a $11.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Rockwell Medical has a consensus rating of “Hold” and a consensus price target of $9.33.

Shares of Rockwell Medical (NASDAQ RMTI) traded up 0.56% during midday trading on Wednesday, hitting $7.12. The stock had a trading volume of 82,871 shares. The firm’s market cap is $368.39 million. Rockwell Medical has a 52 week low of $3.55 and a 52 week high of $8.98. The company’s 50 day moving average is $7.00 and its 200 day moving average is $7.19.

Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Wednesday, August 9th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.04). The company had revenue of $13.24 million during the quarter, compared to the consensus estimate of $13.05 million. Rockwell Medical had a negative net margin of 39.68% and a negative return on equity of 42.22%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) EPS. On average, equities analysts predict that Rockwell Medical will post ($0.44) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece was posted by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of international trademark and copyright law. The correct version of this piece can be accessed at https://www.truebluetribune.com/2017/10/13/rockwell-medical-inc-rmti-rating-increased-to-hold-at-zacks-investment-research.html.

A number of institutional investors have recently modified their holdings of RMTI. Vanguard Group Inc. lifted its holdings in Rockwell Medical by 4.9% during the first quarter. Vanguard Group Inc. now owns 1,990,057 shares of the company’s stock worth $12,458,000 after acquiring an additional 93,589 shares during the period. State Street Corp increased its position in Rockwell Medical by 7.4% in the second quarter. State Street Corp now owns 903,142 shares of the company’s stock worth $7,160,000 after buying an additional 62,094 shares during the last quarter. GSA Capital Partners LLP increased its position in Rockwell Medical by 216.8% in the second quarter. GSA Capital Partners LLP now owns 76,566 shares of the company’s stock worth $607,000 after buying an additional 52,400 shares during the last quarter. Geode Capital Management LLC increased its position in Rockwell Medical by 9.7% in the first quarter. Geode Capital Management LLC now owns 371,700 shares of the company’s stock worth $2,326,000 after buying an additional 32,964 shares during the last quarter. Finally, Northern Trust Corp increased its position in Rockwell Medical by 4.8% in the second quarter. Northern Trust Corp now owns 618,045 shares of the company’s stock worth $4,901,000 after buying an additional 28,482 shares during the last quarter. Institutional investors and hedge funds own 21.36% 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.

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.

Latest News

Leave a Reply