RadNet (RDNT) Rating Increased to Hold at BidaskClub

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

Several other equities analysts have also recently issued reports on RDNT. Zacks Investment Research cut RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. TheStreet cut RadNet from a “b-” rating to a “c” rating in a research note on Friday, October 27th.

Shares of RadNet (RDNT) traded up $0.15 on Friday, hitting $10.60. The stock had a trading volume of 124,112 shares, compared to its average volume of 195,337. 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 stock has a market cap of $497.67, a PE ratio of 46.09, a PEG ratio of 2.28 and a beta of 0.83. RadNet has a fifty-two week low of $5.25 and a fifty-two week high of $11.90.

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

In related news, EVP Norman R. Hames sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $9.96, for a total transaction of $49,800.00. Following the completion of the sale, the executive vice president now owns 365,087 shares in the company, valued at $3,636,266.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $201,600.00. Following the sale, the director now owns 563,781 shares of the company’s stock, valued at approximately $5,682,912.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,084 shares of company stock valued at $1,321,587. 9.36% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Airain ltd purchased a new stake in RadNet during the second quarter worth approximately $100,000. Prudential Financial Inc. lifted its stake in RadNet by 15.2% during the second quarter. Prudential Financial Inc. now owns 20,410 shares of the medical research company’s stock worth $158,000 after purchasing an additional 2,700 shares during the last quarter. Parallax Volatility Advisers L.P. lifted its stake in 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 worth $164,000 after purchasing an additional 117,148 shares during the last quarter. Voya Investment Management LLC lifted its stake in RadNet by 19.5% during the second quarter. Voya Investment Management LLC now owns 21,726 shares of the medical research company’s stock worth $168,000 after purchasing an additional 3,546 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in RadNet during the third quarter worth approximately $195,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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About RadNet

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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