RadNet (NASDAQ:RDNT) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of RadNet (NASDAQ:RDNT) from a buy rating to a hold rating in a report issued on Wednesday, BidAskClub reports.

Several other equities research analysts have also issued reports on RDNT. ValuEngine lowered shares of RadNet from a hold rating to a sell rating in a research report on Tuesday, December 3rd. Zacks Investment Research lowered shares of RadNet from a buy rating to a hold rating in a research report on Saturday, November 16th. Finally, Sidoti increased their price objective on shares of RadNet from $20.00 to $23.00 and gave the stock a buy rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $19.50.

RDNT stock traded up $0.30 on Wednesday, hitting $20.69. 433,748 shares of the company were exchanged, compared to its average volume of 265,842. RadNet has a twelve month low of $10.69 and a twelve month high of $20.80. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.77. The business’s fifty day moving average is $19.84 and its two-hundred day moving average is $16.25. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 4.81 and a beta of 0.97.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Tuesday, November 12th. The medical research company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.05). RadNet had a return on equity of 16.52% and a net margin of 3.02%. The company had revenue of $292.70 million for the quarter, compared to analyst estimates of $283.39 million. During the same period last year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. Equities research analysts expect that RadNet will post 0.21 earnings per share for the current year.

In other news, insider Norman R. Hames sold 10,327 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $18.92, for a total value of $195,386.84. Following the completion of the sale, the insider now owns 532,691 shares of the company’s stock, valued at $10,078,513.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John V. Crues sold 20,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.01, for a total transaction of $360,200.00. Following the completion of the sale, the director now directly owns 414,097 shares of the company’s stock, valued at approximately $7,457,886.97. The disclosure for this sale can be found here. Insiders sold 50,327 shares of company stock valued at $911,187 in the last three months. Company insiders own 6.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new stake in shares of RadNet in the fourth quarter worth $290,000. State of Alaska Department of Revenue purchased a new position in RadNet in the 4th quarter valued at approximately $639,000. Zebra Capital Management LLC boosted its position in RadNet by 35.5% in the 3rd quarter. Zebra Capital Management LLC now owns 14,077 shares of the medical research company’s stock valued at $203,000 after buying an additional 3,691 shares during the period. California State Teachers Retirement System lifted its position in shares of RadNet by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 65,480 shares of the medical research company’s stock worth $940,000 after purchasing an additional 782 shares during the last quarter. Finally, State Street Corp lifted its position in shares of RadNet by 4.1% during the 3rd quarter. State Street Corp now owns 889,809 shares of the medical research company’s stock worth $12,778,000 after purchasing an additional 35,430 shares during the last quarter. 63.76% of the stock is owned by institutional investors.

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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