RadNet (RDNT) Stock Rating Lowered by ValuEngine

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ValuEngine lowered shares of RadNet (NASDAQ:RDNT) from a buy rating to a hold rating in a research note published on Tuesday morning.

RDNT has been the topic of several other research reports. Zacks Investment Research upgraded shares of RadNet from a hold rating to a buy rating and set a $18.00 price objective on the stock in a research note on Saturday. BidaskClub lowered shares of RadNet from a hold rating to a sell rating in a research note on Friday, December 21st. Finally, Raymond James lowered shares of RadNet from a strong-buy rating to an outperform rating and upped their price objective 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. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $17.75.

RadNet stock opened at $14.24 on Tuesday. The company has a market capitalization of $745.70 million, a price-to-earnings ratio of 21.58, a P/E/G ratio of 3.67 and a beta of 1.20. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 4.56. RadNet has a twelve month low of $9.97 and a twelve month high of $16.54.

RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, March 14th. The medical research company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.41. The firm had revenue of $257.21 million for the quarter, compared to analyst estimates of $248.21 million. RadNet had a net margin of 3.31% and a return on equity of 32.03%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) EPS. Equities research analysts forecast that RadNet will post 0.52 earnings per share for the current year.

In other news, insider Norman R. Hames sold 15,000 shares of the stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $10.40, for a total transaction of $156,000.00. Following the transaction, the insider now owns 559,000 shares in the company, valued at approximately $5,813,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.56% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new position in shares of RadNet during the 4th quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of RadNet by 157.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,624 shares of the medical research company’s stock worth $37,000 after purchasing an additional 2,218 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of RadNet during the 4th quarter worth $60,000. Bell & Brown Wealth Advisors LLC acquired a new position in shares of RadNet during the 4th quarter worth $102,000. Finally, Virtu Financial LLC acquired a new position in shares of RadNet during the 4th quarter worth $115,000. Institutional investors own 63.37% 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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