Rockwell Medical (RMTI) Ascends While Market Falls: Some Facts to Note
In the latest market close, Rockwell Medical (RMTI) reached $1.48, with a +0.68% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.02%. Meanwhile, the Dow experienced a drop of 1.04%, and the technology-dominated Nasdaq saw a decrease of 1.65%.
Shares of the maker of products used in the treatment of kidney disease and anemia witnessed a gain of 17.6% over the previous month, beating the performance of the Medical sector with its gain of 4.07% and the S&P 500's gain of 3.64%.
The upcoming earnings release of Rockwell Medical will be of great interest to investors. The company's earnings report is expected on March 21, 2024. The company is forecasted to report an EPS of -$0.08, showcasing a 60% upward movement from the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Rockwell Medical. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Rockwell Medical is carrying a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 152, this industry ranks in the bottom 40% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Rockwell Medical, Inc. (RMTI) : Free Stock Analysis Report
