RadNet (RDNT) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of RadNet (NASDAQ:RDNT) from a sell rating to a hold rating in a research report sent to investors on Saturday.

RDNT has been the topic of several other reports. Zacks Investment Research downgraded RadNet from a hold rating to a sell rating in a research note on Tuesday, November 14th. TheStreet downgraded RadNet from a b- rating to a c rating in a research note on Friday, October 27th.

Shares of RadNet (NASDAQ RDNT) traded up $0.15 during mid-day trading on Friday, reaching $10.60. The company had a trading volume of 124,112 shares, compared to its average volume of 195,337. RadNet has a 1 year low of $5.25 and a 1 year high of $11.90. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 7.88. The stock has a market cap of $504.81, a P/E ratio of 46.09, a price-to-earnings-growth ratio of 2.31 and a beta of 0.83.

RadNet (NASDAQ:RDNT) last announced its earnings results on Thursday, November 9th. The medical research company reported $0.12 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. RadNet had a return on equity of 23.73% and a net margin of 1.21%. The firm had revenue of $227.60 million for the quarter, compared to the consensus estimate of $232.84 million. During the same period in the previous year, the business earned $0.11 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. sell-side analysts predict that RadNet will post 0.35 EPS for the current year.

In other news, Director John V. Crues sold 20,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $10.08, for a total value of $201,600.00. Following the sale, the director now owns 563,781 shares in the company, valued at $5,682,912.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Norman R. Hames sold 5,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $10.00, for a total value of $50,000.00. Following the completion of the sale, the insider now owns 407,257 shares in the company, valued at approximately $4,072,570. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,084 shares of company stock worth $1,321,587. Company insiders own 9.36% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Airain ltd purchased a new stake in shares of RadNet in the second quarter worth about $100,000. Prudential Financial Inc. raised its holdings in RadNet by 15.2% in the 2nd quarter. Prudential Financial Inc. now owns 20,410 shares of the medical research company’s stock worth $158,000 after purchasing an additional 2,700 shares during the period. Parallax Volatility Advisers L.P. raised its holdings in RadNet by 122.0% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 21,122 shares of the medical research company’s stock worth $164,000 after purchasing an additional 117,148 shares during the period. Voya Investment Management LLC raised its holdings in RadNet by 19.5% in the 2nd quarter. Voya Investment Management LLC now owns 21,726 shares of the medical research company’s stock worth $168,000 after purchasing an additional 3,546 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in RadNet in the 3rd quarter worth about $195,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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About RadNet

RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.

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