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

Zacks Investment Research cut shares of RadNet (NASDAQ:RDNT) from a hold rating to a sell rating in a report 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. “

A number of other analysts have also recently commented on the stock. TheStreet cut shares of RadNet from a b- rating to a c rating in a research report on Tuesday, June 4th. BidaskClub upgraded shares of RadNet from a hold rating to a buy rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $17.75.

RDNT opened at $15.08 on Tuesday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.72 and a current ratio of 0.72. RadNet has a 12 month low of $9.97 and a 12 month high of $16.54. The company has a fifty day moving average price of $14.38. The company has a market cap of $751.72 million, a PE ratio of 22.85, a P/E/G ratio of 6.06 and a beta of 1.02.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, August 8th. The medical research company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.02). RadNet had a net margin of 3.33% and a return on equity of 19.82%. The firm had revenue of $289.10 million during the quarter, compared to the consensus estimate of $272.36 million. During the same quarter in the prior year, the company earned $0.11 EPS. RadNet’s quarterly revenue was up 18.3% on a year-over-year basis. On average, research analysts predict that RadNet will post 0.33 earnings per share for the current year.

In other RadNet news, insider Michael N. Murdock sold 21,667 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $13.23, for a total transaction of $286,654.41. Following the completion of 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 filing with the SEC, which is available through the SEC website. Also, insider Norman R. Hames sold 20,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $7,319,378.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,667 shares of company stock valued at $811,454. 6.10% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake 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 acquiring an additional 844 shares during the last quarter. Beck Mack & Oliver LLC grew its stake in shares of RadNet by 54.8% during the second quarter. Beck Mack & Oliver LLC now owns 1,065,134 shares of the medical research company’s stock worth $14,688,000 after buying an additional 376,981 shares during the last quarter. Northern Trust Corp grew its stake in shares of RadNet by 0.4% during the second quarter. Northern Trust Corp now owns 528,414 shares of the medical research company’s stock worth $7,287,000 after buying an additional 1,885 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of RadNet during the second quarter worth $1,003,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of RadNet by 5.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 248,917 shares of the medical research company’s stock worth $3,433,000 after buying an additional 11,986 shares during the last quarter. Hedge funds and other institutional investors own 63.23% 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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