Rockwell Medical (RMTI) Downgraded to “Sell” at Zacks Investment Research

Share on StockTwits

Zacks Investment Research lowered shares of Rockwell Medical (NASDAQ:RMTI) from a hold rating to a sell rating in a research report sent to investors 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. “

Separately, ValuEngine raised shares of Rockwell Medical from a sell rating to a hold rating in a research report on Wednesday, June 27th.

Shares of RMTI opened at $4.18 on Friday. The stock has a market cap of $244.35 million, a PE ratio of -8.20 and a beta of 1.76. Rockwell Medical has a 1-year low of $3.62 and a 1-year high of $8.70.

Rockwell Medical (NASDAQ:RMTI) last announced its earnings results on Tuesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). Rockwell Medical had a negative net margin of 48.06% and a negative return on equity of 76.49%. The company had revenue of $14.91 million for the quarter, compared to the consensus estimate of $14.90 million. sell-side analysts forecast that Rockwell Medical will post -0.52 earnings per share for the current fiscal year.

In other Rockwell Medical news, insider David S. Richmond purchased 12,561 shares of the stock in a transaction that occurred on Thursday, June 28th. The stock was bought at an average cost of $4.50 per share, with a total value of $56,524.50. Following the transaction, the insider now directly owns 176,376 shares in the company, valued at approximately $793,692. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 18.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. lifted its position in Rockwell Medical by 13.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 108,942 shares of the company’s stock valued at $538,000 after acquiring an additional 13,042 shares during the period. Goldman Sachs Group Inc. lifted its position in Rockwell Medical by 117.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 27,139 shares of the company’s stock valued at $158,000 after acquiring an additional 14,648 shares during the period. MetLife Investment Advisors LLC purchased a new position in Rockwell Medical during the 4th quarter valued at about $110,000. Millennium Management LLC purchased a new position in Rockwell Medical during the 4th quarter valued at about $217,000. Finally, Raymond James & Associates lifted its position in Rockwell Medical by 59.0% during the 2nd quarter. Raymond James & Associates now owns 128,276 shares of the company’s stock valued at $632,000 after acquiring an additional 47,600 shares during the period. 21.04% of the stock is owned by institutional investors.

Rockwell Medical Company Profile

Rockwell Medical, Inc operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and internationally. The company's lead drug includes Triferic, an iron maintenance therapy that replaces the iron lost by patients during hemodialysis treatment.

Read More: Diversification in Your Portfolio

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

Leave a Reply