Trade Report: The California Public Employees Retirement System cuts position of Rockwell Medical Inc. (RMTI)

The California Public Employees Retirement System cuts position of Rockwell Medical Inc. (RMTI)

California Public Employees Retirement System cut its stake in shares of Rockwell Medical Inc. (NASDAQ:RMTI) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,500 shares of the company’s stock after selling 1,800 shares during the period. California Public Employees Retirement System owned about 0.11% of Rockwell Medical worth $435,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Starfire Investment Advisers Inc. purchased a new position in Rockwell Medical during the second quarter valued at $100,000. WealthTrust Axiom LLC bought a new position in shares of Rockwell Medical during the second quarter valued at approximately $100,000. Rehmann Capital Advisory Group raised its position in shares of Rockwell Medical by 37.8% in the second quarter. Rehmann Capital Advisory Group now owns 23,828 shares of the company’s stock valued at $180,000 after buying an additional 6,542 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Rockwell Medical during the second quarter valued at approximately $236,000. Finally, Palo Capital Inc. bought a new position in shares of Rockwell Medical during the second quarter valued at approximately $372,000. Institutional investors own 21.62% of the company’s stock.

Rockwell Medical Inc. (NASDAQ:RMTI) traded down 1.05% during midday trading on Friday, reaching $5.67. 263,372 shares of the company’s stock were exchanged. The firm’s market capitalization is $292.15 million. The stock’s 50 day moving average is $6.45 and its 200 day moving average is $7.70. Rockwell Medical Inc. has a 52 week low of $5.47 and a 52 week high of $12.42.

Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Monday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. The business had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $13.86 million. During the same quarter last year, the business posted ($0.05) earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year. On average, analysts expect that Rockwell Medical Inc. will post ($0.38) EPS for the current fiscal year.

Several brokerages have recently commented on RMTI. Zacks Investment Research upgraded shares of Rockwell Medical from a “sell” rating to a “hold” rating in a report on Thursday, October 20th. BTIG Research restated a “buy” rating and issued a $12.00 price objective on shares of Rockwell Medical in a report on Thursday, September 22nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Rockwell Medical presently has an average rating of “Hold” and an average target price of $11.00.

In other news, Director Kenneth L. Holt sold 8,075 shares of Rockwell Medical stock in a transaction dated 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 sale, the director now directly owns 46,858 shares in the company, valued at $319,102.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth L. Holt sold 9,520 shares of Rockwell Medical stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $6.37, for a total transaction of $60,642.40. Following the sale, the director now owns 56,048 shares of the company’s stock, valued at $357,025.76. 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.

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