Zacks Investment Research downgraded shares of RadNet (NASDAQ:RDNT) from a buy rating to a hold rating in a report released on Wednesday.

According to Zacks, “RadNet, Inc., is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers. RadNet offers to its patients and referring physicians the full spectrum of diagnostic imaging exams, including PET/CT, MRI, CT, Nuclear Medicine, Mammography, Ultrasound and X-ray, as well as numerous other procedures. RadNet utilizes best of breed technology to appropriately serve the medical communities in which it operates. “

Separately, BidaskClub upgraded RadNet from a hold rating to a buy rating in a research report on Saturday, October 13th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $15.50.

RadNet stock traded up $0.46 during trading on Wednesday, reaching $13.48. 244,659 shares of the company were exchanged, compared to its average volume of 255,351. RadNet has a 52-week low of $9.50 and a 52-week high of $16.54. The company has a market cap of $680.58 million, a price-to-earnings ratio of 45.34, a PEG ratio of 5.26 and a beta of 0.36. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.06 and a current ratio of 1.12.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Friday, November 9th. The medical research company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.05). RadNet had a positive return on equity of 14.62% and a negative net margin of 0.44%. The company had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $240.07 million. During the same quarter in the previous year, the business posted $0.12 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that RadNet will post 0.34 EPS for the current fiscal year.

In other RadNet news, insider Norman R. Hames sold 14,000 shares of the firm’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $15.59, for a total transaction of $218,260.00. Following the completion of the sale, the insider now owns 589,000 shares of the company’s stock, valued at $9,182,510. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Norman R. Hames sold 10,000 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $14.06, for a total value of $140,600.00. Following the sale, the insider now directly owns 613,000 shares of the company’s stock, valued at approximately $8,618,780. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,000 shares of company stock valued at $506,660. 7.56% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its stake in shares of RadNet by 16.0% in the second quarter. Rhumbline Advisers now owns 39,205 shares of the medical research company’s stock valued at $588,000 after buying an additional 5,398 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of RadNet by 20.7% in the second quarter. Renaissance Technologies LLC now owns 2,414,812 shares of the medical research company’s stock valued at $36,222,000 after buying an additional 413,312 shares in the last quarter. Swiss National Bank grew its stake in shares of RadNet by 15.3% in the second quarter. Swiss National Bank now owns 74,400 shares of the medical research company’s stock valued at $1,116,000 after buying an additional 9,900 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of RadNet in the second quarter valued at $156,000. Finally, Mackay Shields LLC grew its stake in shares of RadNet by 36.2% in the second quarter. Mackay Shields LLC now owns 307,400 shares of the medical research company’s stock valued at $4,611,000 after buying an additional 81,700 shares in the last quarter. 62.11% 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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