Zacks Research Upgrades Rockwell Medical (NASDAQ:RMTI) to Hold

Rockwell Medical (NASDAQ:RMTI) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks reports.

A number of other equities research analysts have also recently commented on RMTI. Weiss Ratings upgraded shares of Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. Wall Street Zen raised shares of Rockwell Medical to a “hold” rating in a research note on Saturday, July 25th. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Rockwell Medical in a research report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.00.

Rockwell Medical Price Performance

Shares of RMTI traded down $0.35 during trading hours on Thursday, hitting $7.03. 42,451 shares of the stock were exchanged, compared to its average volume of 24,348. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.00 and a current ratio of 3.25. Rockwell Medical has a 12-month low of $4.89 and a 12-month high of $12.90. The company has a market cap of $28.33 million, a price-to-earnings ratio of -4.92 and a beta of 1.75. The stock’s 50-day moving average price is $7.80 and its two-hundred day moving average price is $8.07.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Thursday, November 12th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.41). Rockwell Medical had a negative net margin of 7.79% and a negative return on equity of 15.72%. The firm had revenue of $19.12 million during the quarter, compared to analysts’ expectations of $18.22 million. Research analysts expect that Rockwell Medical will post -0.90 earnings per share for the current year.

Hedge Funds Weigh In On Rockwell Medical

An institutional investor recently bought a new stake in Rockwell Medical stock. Corsair Capital Management L.P. bought a new position in Rockwell Medical, Inc. (NASDAQ:RMTI) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 50,000 shares of the company’s stock, valued at approximately $45,000. Corsair Capital Management L.P. owned about 0.13% of Rockwell Medical as of its most recent SEC filing. 23.31% of the stock is owned by institutional investors.

Rockwell Medical News Summary

Investors following RMTI have been watching these news items:

• Positive Sentiment: Third-quarter sales rose 20% year over year to $19.1 million, ahead of estimates; gross profit increased 37% to $3.1 million, and gross margin improved to 16% from 14%. Rockwell Medical reports third-quarter sales
• Negative Sentiment: The quarterly loss was $0.59 per share, substantially wider than the $0.18 loss analysts expected and the $0.50 loss a year earlier. The earnings miss may offset the stronger sales figures. Quarterly loss and revenue results
• Negative Sentiment: Regulatory approvals for the Vantive transaction could bring costly conditions and reduce expected synergies, creating uncertainty around the deal’s benefits and timeline. Regulatory risks around the Vantive transaction

About Rockwell Medical

Rockwell Medical, Inc. is a healthcare company that develops, manufactures and distributes products used in the treatment of people with kidney disease, particularly patients receiving hemodialysis. Its offerings include acid and bicarbonate concentrates used to prepare dialysis solutions, as well as related supplies and services for dialysis providers. The company has also developed pharmaceutical products for use in dialysis care. Founded in 1996, Rockwell Medical is based in the United States and serves dialysis providers in the U.S. and select international markets.