Rockwell Medical Inc. (NASDAQ:RMTI) Director Kenneth L. Holt sold 8,075 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $6.81, for a total value of $54,990.75. Following the completion of the sale, the director now owns 46,858 shares in the company, valued at approximately $319,102.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Rockwell Medical Inc. (NASDAQ:RMTI) opened at 6.61 on Monday. The firm’s market cap is $340.59 million. The company’s 50-day moving average price is $7.12 and its 200-day moving average price is $7.78. Rockwell Medical Inc. has a 12 month low of $5.47 and a 12 month high of $13.50.
Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $13.86 million. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. Rockwell Medical’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. On average, analysts predict that Rockwell Medical Inc. will post ($0.37) EPS for the current year.
Several analysts have issued reports on RMTI shares. Zacks Investment Research lowered Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. BTIG Research began coverage on Rockwell Medical in a research note on Friday, August 19th. They issued a “buy” rating and a $12.00 price objective on the stock. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.00.
A number of institutional investors have recently added to or reduced their stakes in the stock. Paloma Partners Management Co bought a new position in Rockwell Medical during the second quarter worth about $125,000. Rhumbline Advisers increased its position in Rockwell Medical by 9.2% in the second quarter. Rhumbline Advisers now owns 55,164 shares of the company’s stock worth $418,000 after buying an additional 4,641 shares during the period. Teachers Advisors Inc. increased its position in Rockwell Medical by 0.7% in the second quarter. Teachers Advisors Inc. now owns 74,948 shares of the company’s stock worth $567,000 after buying an additional 547 shares during the period. BlackRock Investment Management LLC increased its position in Rockwell Medical by 5.0% in the second quarter. BlackRock Investment Management LLC now owns 192,817 shares of the company’s stock worth $1,460,000 after buying an additional 9,250 shares during the period. Finally, Vanguard Group Inc. increased its position in Rockwell Medical by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,832,115 shares of the company’s stock worth $13,870,000 after buying an additional 83,440 shares during the period. Institutional investors and hedge funds own 21.72% of the company’s stock.
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.
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