RadNet (RDNT) Lowered to “Strong Sell” at BidaskClub

BidaskClub cut shares of RadNet (NASDAQ:RDNT) from a sell rating to a strong sell rating in a research note released on Wednesday, BidAskClub reports.

RDNT has been the topic of several other reports. Zacks Investment Research upgraded RadNet from a hold rating to a buy rating and set a $18.00 target price on the stock in a research note on Saturday, March 16th. ValuEngine downgraded RadNet from a buy rating to a hold rating in a research note on Tuesday, March 19th. Raymond James downgraded RadNet from a strong-buy rating to an outperform rating and lifted their target price for the company from $16.00 to $17.50 in a research note on Friday, March 15th. They noted that the move was a valuation call. Finally, TheStreet upgraded RadNet from a c rating to a b- rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $17.75.

NASDAQ:RDNT traded up $0.21 during mid-day trading on Wednesday, reaching $12.59. 443,997 shares of the stock were exchanged, compared to its average volume of 251,234. The company has a market capitalization of $630.39 million, a PE ratio of 19.08, a P/E/G ratio of 4.45 and a beta of 1.17. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 3.16. RadNet has a 1 year low of $9.97 and a 1 year high of $16.54.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, March 14th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.41. The firm had revenue of $257.21 million for the quarter, compared to the consensus estimate of $248.21 million. RadNet had a return on equity of 27.51% and a net margin of 3.31%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) EPS. As a group, sell-side analysts anticipate that RadNet will post 0.34 EPS for the current fiscal year.

In other RadNet news, Director Michael L. Md Sherman sold 20,000 shares of RadNet stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $13.89, for a total value of $277,800.00. Following the transaction, the director now directly owns 279,720 shares in the company, valued at approximately $3,885,310.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Swartz sold 11,556 shares of RadNet stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $14.72, for a total value of $170,104.32. Following the completion of the transaction, the director now owns 265,855 shares in the company, valued at $3,913,385.60. The disclosure for this sale can be found here. Insiders sold a total of 46,556 shares of company stock worth $672,754 over the last quarter. Company insiders own 7.56% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of RadNet by 1,136.3% in the 1st quarter. Victory Capital Management Inc. now owns 74,266 shares of the medical research company’s stock valued at $920,000 after purchasing an additional 68,259 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in shares of RadNet in the first quarter valued at approximately $1,001,000. Beck Mack & Oliver LLC boosted its stake in shares of RadNet by 27.7% in the first quarter. Beck Mack & Oliver LLC now owns 688,153 shares of the medical research company’s stock valued at $8,526,000 after buying an additional 149,250 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of RadNet in the first quarter valued at approximately $34,000. Finally, SG Americas Securities LLC purchased a new stake in shares of RadNet in the first quarter valued at approximately $116,000. Institutional investors own 63.55% 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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