RadNet (NASDAQ:RDNT) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of RadNet (NASDAQ:RDNT) from a hold rating to a sell rating in a research note issued to investors 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 firms have also weighed in on RDNT. BidaskClub raised RadNet from a hold rating to a buy rating in a research note on Wednesday, July 17th. TheStreet lowered RadNet from a b- rating to a c rating in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. RadNet presently has an average rating of Buy and an average price target of $17.75.

Shares of RDNT traded up $0.17 during trading hours on Tuesday, hitting $15.38. 1,248 shares of the company were exchanged, compared to its average volume of 213,793. The company has a market cap of $755.92 million, a price-to-earnings ratio of 23.29, a P/E/G ratio of 6.09 and a beta of 1.02. RadNet has a fifty-two week low of $9.97 and a fifty-two week high of $16.54. The company has a quick ratio of 0.72, a current ratio of 0.80 and a debt-to-equity ratio of 5.09. The firm’s fifty day moving average is $14.45 and its 200 day moving average is $13.51.

RadNet (NASDAQ:RDNT) last released its earnings results on Thursday, August 8th. The medical research company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $289.10 million for the quarter, compared to analyst estimates of $272.36 million. RadNet had a return on equity of 18.91% and a net margin of 3.33%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. Analysts anticipate that RadNet will post 0.33 EPS for the current year.

In related news, insider John V. Crues sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $15.07, for a total value of $753,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Norman R. Hames sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $13.09, for a total value of $261,800.00. Following the completion of the sale, the insider now directly owns 559,158 shares in the company, valued at $7,319,378.22. The disclosure for this sale can be found here. Insiders sold 91,667 shares of company stock worth $1,301,954 over the last ninety days. 6.10% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its position in RadNet by 34.0% in the second quarter. US Bancorp DE now owns 3,325 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 844 shares during the last quarter. Envestnet Asset Management Inc. raised its position in RadNet by 11.0% in the second quarter. Envestnet Asset Management Inc. now owns 11,390 shares of the medical research company’s stock valued at $157,000 after purchasing an additional 1,132 shares during the last quarter. Northern Trust Corp raised its position in RadNet by 0.3% in the fourth quarter. Northern Trust Corp now owns 518,399 shares of the medical research company’s stock valued at $5,272,000 after purchasing an additional 1,521 shares during the last quarter. Aperio Group LLC bought a new position in RadNet in the second quarter valued at about $36,000. Finally, Quantamental Technologies LLC bought a new position in RadNet in the first quarter valued at about $34,000. 63.23% of the stock is currently owned by institutional investors and hedge funds.

RadNet Company Profile

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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