RadNet (NASDAQ:RDNT) Downgraded by Zacks Investment Research to Sell

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Zacks Investment Research lowered 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. “

Other equities research analysts have also recently issued reports about the company. Raymond James lowered their price objective 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. ValuEngine upgraded Yara International ASA from a sell rating to a hold rating in a report on Tuesday, March 19th. TheStreet cut TIM Participacoes from a b rating to a c+ rating in a report on Tuesday, June 4th. Finally, BidaskClub upgraded Misonix from a buy rating to a strong-buy rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. RadNet has an average rating of Hold and a consensus target price of $17.75.

Shares of RadNet stock opened at $14.49 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 4.74. RadNet has a twelve month low of $9.97 and a twelve month high of $16.54. The company has a 50-day simple moving average of $13.15. The stock has a market cap of $725.67 million, a price-to-earnings ratio of 19.58, a PEG ratio of 5.52 and a beta of 1.10.

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

In other news, insider Michael N. Murdock sold 21,667 shares of the business’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 directly owns 100,575 shares in the company, valued at approximately $1,330,607.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Norman R. Hames sold 20,000 shares of the business’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 $7,319,378.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,667 shares of company stock worth $811,454. Insiders own 6.10% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Moab Capital Partners LLC lifted its holdings in RadNet by 46.0% in the fourth quarter. Moab Capital Partners LLC now owns 3,372,539 shares of the medical research company’s stock valued at $34,299,000 after acquiring an additional 1,062,592 shares during the last quarter. BlackRock Inc. raised its position in RadNet by 3.9% in the fourth quarter. BlackRock Inc. now owns 3,209,766 shares of the medical research company’s stock valued at $32,644,000 after purchasing an additional 120,149 shares during the period. Dimensional Fund Advisors LP raised its position in RadNet by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,581,140 shares of the medical research company’s stock valued at $16,081,000 after purchasing an additional 12,736 shares during the period. Dalton Greiner Hartman Maher & Co. raised its position in RadNet by 262.5% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 1,197,068 shares of the medical research company’s stock valued at $14,832,000 after purchasing an additional 866,818 shares during the period. Finally, Cortina Asset Management LLC raised its position in RadNet by 32.5% in the second quarter. Cortina Asset Management LLC now owns 1,167,254 shares of the medical research company’s stock valued at $16,096,000 after purchasing an additional 286,388 shares during the period. Institutional investors and hedge funds own 63.97% of the company’s stock.

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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