RadNet (RDNT) Raised to Hold at BidaskClub

RadNet (NASDAQ:RDNT) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages have also recently weighed in on RDNT. Zacks Investment Research raised RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. TheStreet cut RadNet from a “b-” rating to a “c” rating in a research note on Friday, October 27th.

Shares of RadNet (NASDAQ:RDNT) traded up $0.15 during mid-day trading on Friday, hitting $10.60. The stock had a trading volume of 124,112 shares, compared to its average volume of 195,337. RadNet has a 1 year low of $5.25 and a 1 year high of $11.90. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 7.88. The company has a market capitalization of $497.67, a PE ratio of 46.09, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83.

RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, November 9th. The medical research company reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. RadNet had a return on equity of 23.73% and a net margin of 1.21%. The firm had revenue of $227.60 million for the quarter, compared to analysts’ expectations of $232.84 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. research analysts forecast that RadNet will post 0.35 EPS for the current fiscal year.

In other RadNet news, Director John V. Crues sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $10.08, for a total transaction of $201,600.00. Following the completion of the transaction, the director now owns 563,781 shares in the company, valued at $5,682,912.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Norman R. Hames sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $10.00, for a total value of $50,000.00. Following the transaction, the insider now owns 407,257 shares of the company’s stock, valued at approximately $4,072,570. The disclosure for this sale can be found here. Insiders have sold 133,084 shares of company stock worth $1,321,587 over the last three months. 9.36% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. Airain ltd purchased a new position in shares of RadNet during the second quarter valued at approximately $100,000. Cubist Systematic Strategies LLC purchased a new position in shares of RadNet during the third quarter valued at approximately $195,000. Prudential Financial Inc. boosted its position in shares of RadNet by 15.2% during the second quarter. Prudential Financial Inc. now owns 20,410 shares of the medical research company’s stock valued at $158,000 after buying an additional 2,700 shares during the period. Parallax Volatility Advisers L.P. boosted its position in shares of RadNet by 122.0% during the second quarter. Parallax Volatility Advisers L.P. now owns 21,122 shares of the medical research company’s stock valued at $164,000 after buying an additional 117,148 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of RadNet by 19.5% during the second quarter. Voya Investment Management LLC now owns 21,726 shares of the medical research company’s stock valued at $168,000 after buying an additional 3,546 shares during the period. Institutional investors and hedge funds own 53.16% of the company’s stock.

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RadNet Company Profile

RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.

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