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

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

RDNT has been the subject of several other research reports. BidaskClub upgraded shares of Misonix from a buy rating to a strong-buy rating in a research note on Wednesday, July 3rd. ValuEngine upgraded shares of Yara International ASA from a sell rating to a hold rating in a research note on Tuesday, March 19th. TheStreet downgraded shares of TIM Participacoes from a b rating to a c+ rating in a research note on Tuesday, June 4th. Finally, Raymond James decreased their price objective on shares of Petrus Resources from C$1.25 to C$1.00 and set an outperform rating for the company in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. RadNet has an average rating of Hold and an average target price of $17.75.

Shares of RDNT 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. The stock’s fifty day moving average price is $13.15. The firm has a market capitalization of $725.67 million, a P/E ratio of 19.58, a P/E/G ratio of 5.52 and a beta of 1.10. RadNet has a 12 month low of $9.97 and a 12 month high of $16.54.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, May 9th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). RadNet had a net margin of 3.53% and a return on equity of 22.38%. The company had revenue of $271.50 million during the quarter, compared to the consensus estimate of $256.30 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. RadNet’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities analysts expect 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 stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $13.23, for a total transaction of $286,654.41. Following the completion of the sale, the insider now owns 100,575 shares in the company, valued at $1,330,607.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John V. Crues sold 20,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $13.15, for a total transaction of $263,000.00. Following the sale, the insider now owns 524,097 shares of the company’s stock, valued at approximately $6,891,875.55. The disclosure for this sale can be found here. Insiders sold 61,667 shares of company stock valued at $811,454 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new position in RadNet during the first quarter worth about $34,000. Financial Gravity Wealth Inc. purchased a new position in RadNet during the first quarter worth about $35,000. PNC Financial Services Group Inc. purchased a new position in RadNet during the fourth quarter worth about $36,000. Bell & Brown Wealth Advisors LLC purchased a new position in RadNet during the fourth quarter worth about $102,000. Finally, BNP Paribas Arbitrage SA raised its holdings in RadNet by 485.7% during the first quarter. BNP Paribas Arbitrage SA now owns 8,399 shares of the medical research company’s stock worth $104,000 after purchasing an additional 6,965 shares in the last quarter. 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.

Read More: Price to Earnings Ratio (PE) Basics

Get a free copy of the Zacks research report on RadNet (RDNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for RadNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet and related companies with MarketBeat.com's FREE daily email newsletter.