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. “
Shares of Rockwell Medical (NASDAQ:RMTI) opened at 6.05 on Wednesday. Rockwell Medical has a 1-year low of $3.55 and a 1-year high of $10.58. The firm has a 50-day moving average price of $5.97 and a 200 day moving average price of $6.22. The company’s market cap is $311.74 million.
Rockwell Medical (NASDAQ:RMTI) last issued its earnings results on Wednesday, March 15th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.01. Rockwell Medical had a negative net margin of 37.98% and a negative return on equity of 33.60%. The firm earned $13.39 million during the quarter, compared to the consensus estimate of $15.45 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis. On average, analysts predict that Rockwell Medical will post ($0.36) EPS for the current fiscal year.
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In other Rockwell Medical news, Director Kenneth L. Holt sold 6,000 shares of Rockwell Medical stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $5.98, for a total transaction of $35,880.00. Following the completion of the transaction, the director now owns 17,430 shares in the company, valued at approximately $104,231.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David S. Richmond purchased 37,210 shares of the business’s stock in a transaction on Wednesday, March 22nd. The shares were bought at an average price of $5.84 per share, with a total value of $217,306.40. Following the purchase, the insider now directly owns 176,412 shares in the company, valued at approximately $1,030,246.08. The disclosure for this purchase can be found here. Insiders own 15.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE bought a new position in Rockwell Medical during the third quarter worth about $124,000. Ladenburg Thalmann Financial Services Inc. increased its position in Rockwell Medical by 0.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,090 shares of the company’s stock worth $165,000 after buying an additional 100 shares during the period. Cutter & CO Brokerage Inc. bought a new position in Rockwell Medical during the fourth quarter worth about $166,000. Rehmann Capital Advisory Group increased its position in Rockwell Medical by 34.2% in the third quarter. Rehmann Capital Advisory Group now owns 31,972 shares of the company’s stock worth $214,000 after buying an additional 8,144 shares during the period. Finally, Balasa Dinverno & Foltz LLC increased its position in Rockwell Medical by 4.2% in the third quarter. Balasa Dinverno & Foltz LLC now owns 37,300 shares of the company’s stock worth $250,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 21.14% 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.
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