Perkins Capital Management Inc. cut its stake in Rockwell Medical, Inc. (NASDAQ:RMTI) by 9.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 440,134 shares of the company’s stock after selling 45,299 shares during the period. Rockwell Medical accounts for approximately 3.9% of Perkins Capital Management Inc.’s holdings, making the stock its 3rd largest position. Perkins Capital Management Inc. owned approximately 0.85% of Rockwell Medical worth $3,490,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Balasa Dinverno & Foltz LLC raised its stake in shares of Rockwell Medical by 5.8% in the second quarter. Balasa Dinverno & Foltz LLC now owns 54,300 shares of the company’s stock valued at $431,000 after buying an additional 3,000 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Rockwell Medical by 11.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 42,220 shares of the company’s stock valued at $264,000 after buying an additional 4,287 shares in the last quarter. KCG Holdings Inc. bought a new stake in shares of Rockwell Medical during the first quarter valued at $111,000. Geode Capital Management LLC raised its stake in shares of Rockwell Medical by 9.7% in the first quarter. Geode Capital Management LLC now owns 371,700 shares of the company’s stock valued at $2,326,000 after buying an additional 32,964 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Rockwell Medical by 4.9% in the first quarter. Vanguard Group Inc. now owns 1,990,057 shares of the company’s stock valued at $12,458,000 after buying an additional 93,589 shares in the last quarter. 20.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rockwell Medical, Inc. (NASDAQ RMTI) opened at 7.16 on Friday. The firm’s market capitalization is $372.73 million. Rockwell Medical, Inc. has a 12 month low of $3.55 and a 12 month high of $8.98. The firm has a 50-day moving average price of $7.79 and a 200 day moving average price of $6.85.
Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Tuesday, May 9th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $14.60 million during the quarter, compared to analysts’ expectations of $12.66 million. Rockwell Medical had a negative return on equity of 36.36% and a negative net margin of 36.35%. Rockwell Medical’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) earnings per share. On average, analysts anticipate that Rockwell Medical, Inc. will post ($0.39) EPS for the current fiscal year.
Several brokerages have weighed in on RMTI. BidaskClub lowered Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research raised Rockwell Medical from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, ValuEngine lowered Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. Rockwell Medical has an average rating of “Hold” and a consensus target price of $7.50.
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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