RadNet (NASDAQ:RDNT) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of RadNet (NASDAQ:RDNT) from a hold rating to a sell rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “RadNet, Inc., is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers. RadNet offers to its patients and referring physicians the full spectrum of diagnostic imaging exams, including PET/CT, MRI, CT, Nuclear Medicine, Mammography, Ultrasound and X-ray, as well as numerous other procedures. RadNet utilizes best of breed technology to appropriately serve the medical communities in which it operates. “

A number of other research analysts also recently issued reports on RDNT. Raymond James reduced their price target on Petrus Resources from C$1.25 to C$1.00 and set an outperform rating on the stock in a report on Friday, March 15th. BidaskClub upgraded Misonix from a buy rating to a strong-buy rating in a report on Wednesday, July 3rd. TheStreet downgraded TIM Participacoes from a b rating to a c+ rating in a report on Tuesday, June 4th. Finally, ValuEngine upgraded Yara International ASA from a sell rating to a hold rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $17.75.



Shares of NASDAQ:RDNT opened at $14.49 on Wednesday. RadNet has a 1 year low of $9.97 and a 1 year high of $16.54. The stock has a market cap of $712.16 million, a P/E ratio of 19.22, a PEG ratio of 5.42 and a beta of 1.10. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.72 and a current ratio of 0.72. The firm’s 50-day simple moving average is $13.15.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). RadNet had a return on equity of 22.38% and a net margin of 3.53%. The company had revenue of $271.50 million for the quarter, compared to the consensus estimate of $256.30 million. During the same quarter in the previous year, the business earned ($0.15) EPS. RadNet’s revenue was up 17.3% compared to the same quarter last year. Equities research analysts anticipate that RadNet will post 0.35 earnings per share for the current fiscal year.

In other RadNet news, insider Michael N. Murdock sold 21,667 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $13.23, for a total transaction of $286,654.41. Following the transaction, the insider now owns 100,575 shares in the company, valued at approximately $1,330,607.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Norman R. Hames sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $13.09, for a total value of $261,800.00. Following the transaction, the insider now owns 559,158 shares in the company, valued at approximately $7,319,378.22. The disclosure for this sale can be found here. Insiders have sold a total of 61,667 shares of company stock worth $811,454 in the last quarter. Company insiders own 6.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Cortina Asset Management LLC grew its holdings in shares of RadNet by 32.5% during the 2nd quarter. Cortina Asset Management LLC now owns 1,167,254 shares of the medical research company’s stock worth $16,096,000 after acquiring an additional 286,388 shares during the period. Campbell & CO Investment Adviser LLC grew its stake in shares of RadNet by 62.6% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 16,508 shares of the medical research company’s stock worth $205,000 after buying an additional 6,353 shares during the last quarter. BBT Capital Management LLC purchased a new stake in shares of RadNet in the 1st quarter worth approximately $219,000. Royce & Associates LP grew its stake in shares of RadNet by 33.8% in the 1st quarter. Royce & Associates LP now owns 364,423 shares of the medical research company’s stock worth $4,515,000 after buying an additional 92,000 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. grew its stake in shares of RadNet by 63.1% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 897,148 shares of the medical research company’s stock worth $11,116,000 after buying an additional 347,100 shares during the last quarter. Hedge funds and other institutional investors own 63.97% of the company’s stock.

About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.

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