Richmond Brothers, Inc revealed that they own 10.7% of Rockwell Medical Inc. (NASDAQ:RMTI) in a Form 13G/A disclosure that was filed with the SEC on Wednesday, October 12th. The investor owns 5,514,337 shares of the stock valued at approximately $35,898,334. The filing is available through Edgar at this hyperlink.
A number of other large investors have also added to or reduced their stakes in RMTI. Teachers Advisors Inc. raised its position in shares of 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 last quarter. InterOcean Capital LLC raised its position in shares of Rockwell Medical by 3.0% in the second quarter. InterOcean Capital LLC now owns 19,165 shares of the company’s stock worth $145,000 after buying an additional 550 shares during the last quarter. Provident Investment Management Inc. raised its position in shares of Rockwell Medical by 3.8% in the second quarter. Provident Investment Management Inc. now owns 27,108 shares of the company’s stock worth $205,000 after buying an additional 1,000 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Rockwell Medical by 5.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 26,889 shares of the company’s stock worth $204,000 after buying an additional 1,280 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Rockwell Medical by 0.8% in the first quarter. Geode Capital Management LLC now owns 307,440 shares of the company’s stock worth $2,308,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 21.72% of the company’s stock.
Rockwell Medical Inc. (NASDAQ:RMTI) opened at 6.51 on Wednesday. The stock has a 50 day moving average price of $6.88 and a 200 day moving average price of $7.82. The company’s market capitalization is $335.43 million. Rockwell Medical Inc. has a 52-week low of $5.47 and a 52-week high of $13.50.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 28.90% and a negative net margin of 33.04%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) earnings per share. Analysts anticipate that Rockwell Medical Inc. will post ($0.37) EPS for the current fiscal year.
RMTI has been the topic of a number of recent research reports. BTIG Research reiterated a “buy” rating and issued a $12.00 price objective on shares of Rockwell Medical in a research report on Thursday, September 22nd. Zacks Investment Research upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $11.00.
In other news, Director Kenneth L. Holt sold 8,075 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $6.81, for a total transaction of $54,990.75. Following the completion of the transaction, the director now directly owns 46,858 shares in the company, valued at $319,102.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth L. Holt sold 3,692 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $7.31, for a total transaction of $26,988.52. Following the transaction, the director now owns 63,475 shares of the company’s stock, valued at $464,002.25. The disclosure for this sale can be found here. Insiders own 15.90% 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.