Zacks Investment Research Lowers RadNet (NASDAQ:RDNT) to Sell

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

Several other research analysts have also recently issued reports on the company. BidaskClub cut RadNet from a strong-buy rating to a buy rating in a report on Wednesday, August 28th. TheStreet cut RadNet from a b- rating to a c rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. RadNet has an average rating of Buy and a consensus target price of $17.75.



NASDAQ RDNT opened at $14.98 on Tuesday. The stock has a market capitalization of $753.91 million, a P/E ratio of 21.18, a P/E/G ratio of 6.08 and a beta of 0.93. RadNet has a 1 year low of $9.97 and a 1 year high of $16.54. The business’s fifty day moving average is $14.60 and its two-hundred day moving average is $13.63. The company has a debt-to-equity ratio of 5.09, a quick ratio of 0.80 and a current ratio of 0.80.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Thursday, August 8th. The medical research company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). The company had revenue of $289.10 million during the quarter, compared to the consensus estimate of $272.36 million. RadNet had a net margin of 3.33% and a return on equity of 18.91%. RadNet’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 EPS. On average, research analysts forecast that RadNet will post 0.33 earnings per share for the current year.

In other RadNet news, Director Michael L. Md Sherman sold 30,000 shares of RadNet stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $15.19, for a total transaction of $455,700.00. Following the transaction, the director now directly owns 259,083 shares in the company, valued at approximately $3,935,470.77. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John V. Crues sold 50,000 shares of RadNet stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $15.07, for a total transaction of $753,500.00. The disclosure for this sale can be found here. Insiders sold 100,703 shares of company stock worth $1,522,850 in the last ninety days. 6.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dalton Greiner Hartman Maher & Co. grew its position in RadNet by 3.7% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 1,207,609 shares of the medical research company’s stock worth $16,653,000 after purchasing an additional 42,655 shares in the last quarter. Nomura Holdings Inc. purchased a new position in RadNet during the 2nd quarter worth approximately $350,000. White Pine Capital LLC grew its position in RadNet by 49.4% during the 2nd quarter. White Pine Capital LLC now owns 74,265 shares of the medical research company’s stock worth $1,024,000 after purchasing an additional 24,550 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in RadNet during the 2nd quarter worth approximately $3,332,000. Finally, Victory Capital Management Inc. grew its position in RadNet by 23.2% during the 2nd quarter. Victory Capital Management Inc. now owns 91,520 shares of the medical research company’s stock worth $1,262,000 after purchasing an additional 17,254 shares in the last quarter. Hedge funds and other institutional investors own 61.57% 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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