Rockwell Medical (RMTI) Releases Quarterly Earnings Results
Rockwell Medical (NASDAQ:RMTI) announced its earnings results on Friday. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.05, MarketWatch Earnings reports. Rockwell Medical had a negative return on equity of 89.63% and a negative net margin of 55.38%. The company had revenue of $16.67 million for the quarter, compared to the consensus estimate of $15.00 million.
Shares of RMTI traded up $0.79 during mid-day trading on Friday, hitting $4.38. The company’s stock had a trading volume of 485,859 shares, compared to its average volume of 151,407. The stock has a market capitalization of $198.54 million, a P/E ratio of -8.59 and a beta of 1.42. Rockwell Medical has a 1-year low of $3.55 and a 1-year high of $6.98.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Rockwell Medical by 0.8% in the 3rd quarter. BlackRock Inc. now owns 3,221,245 shares of the company’s stock valued at $13,593,000 after buying an additional 25,322 shares during the period. Raymond James & Associates lifted its holdings in shares of Rockwell Medical by 59.0% in the 2nd quarter. Raymond James & Associates now owns 128,276 shares of the company’s stock valued at $632,000 after buying an additional 47,600 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Rockwell Medical by 13.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 108,942 shares of the company’s stock valued at $538,000 after buying an additional 13,042 shares during the period. Finally, Sigma Investment Counselors Inc. lifted its holdings in shares of Rockwell Medical by 24.3% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 86,834 shares of the company’s stock valued at $366,000 after buying an additional 17,000 shares during the period. 22.15% of the stock is owned by institutional investors and hedge funds.
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About Rockwell Medical
Rockwell Medical, Inc operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and internationally. The company's lead drug includes Triferic, an iron maintenance therapy that replaces the iron lost by patients during hemodialysis treatment.
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