RadNet (NASDAQ:RDNT) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued on Wednesday, Zacks.com reports.
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, Raymond James increased their price objective on RadNet from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Monday, March 15th.
RDNT stock opened at $22.98 on Wednesday. The firm has a market cap of $1.20 billion, a PE ratio of -109.42 and a beta of 1.52. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.55. The business has a 50 day moving average of $22.19 and a 200-day moving average of $19.62. RadNet has a 12-month low of $12.80 and a 12-month high of $25.49.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Sunday, March 7th. The medical research company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). RadNet had a negative net margin of 0.98% and a negative return on equity of 2.72%. The firm had revenue of $308.50 million for the quarter, compared to the consensus estimate of $300.62 million. During the same period last year, the company posted $0.21 earnings per share. RadNet's revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts expect that RadNet will post -0.15 earnings per share for the current year.
In other RadNet news, insider Norman R. Hames sold 35,000 shares of the stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $21.77, for a total transaction of $761,950.00. Following the sale, the insider now owns 335,160 shares in the company, valued at $7,296,433.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John V. Crues sold 10,000 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $23.82, for a total value of $238,200.00. Following the sale, the director now owns 435,262 shares in the company, valued at approximately $10,367,940.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,500 shares of company stock worth $2,027,575. Company insiders own 5.77% of the company's stock.
Several large investors have recently bought and sold shares of RDNT. Miracle Mile Advisors LLC lifted its position in shares of RadNet by 31.7% during the fourth quarter. Miracle Mile Advisors LLC now owns 51,905 shares of the medical research company's stock worth $1,016,000 after acquiring an additional 12,485 shares in the last quarter. Brave Asset Management Inc. purchased a new stake in shares of RadNet in the fourth quarter worth $382,000. GSA Capital Partners LLP purchased a new stake in shares of RadNet in the fourth quarter worth $228,000. Swiss National Bank raised its position in shares of RadNet by 2.1% in the fourth quarter. Swiss National Bank now owns 99,100 shares of the medical research company's stock worth $1,939,000 after buying an additional 2,000 shares in the last quarter. Finally, Aperio Group LLC purchased a new stake in shares of RadNet in the fourth quarter worth $212,000. Hedge funds and other institutional investors own 67.46% of the company's stock.
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.
Further Reading: Technical Analysis of Stocks and What It Means
Get a free copy of the Zacks research report on RadNet (RDNT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: How to Invest in a Bull Market7 Electric Vehicle (EV) Stocks That Have Real Juice
I’ll start with a disclaimer. You won’t see Tesla (NASDAQ:TSLA) or Nio (NYSE:NIO) on this list. And that’s not because I’m being contrarian. I just view Tesla and Nio as the known quantities in the electric vehicle sector. The goal of this presentation is to help you identify stocks that may be flying under your radar.
Many EV stocks went public in 2020 via a special purpose acquisition company (SPAC). There is both good and bad to that story. The good is that investors have many options for investing in the EV sector. Many of the companies that have entered the market are attempting to carve out a specific niche.
The potentially bad news is that these stocks are very speculative in nature. Whereas companies like Tesla and Nio have a proven (albeit recent) track record, there are things like revenue and orders that investors can analyze. With many of these newly public companies, investors are being asked to buy the story more than the stock and that is always risky.
However, in this special presentation, we’ve identified seven companies that look like they have a story that is compelling enough that investors should be rewarded in 2021.
View the "7 Electric Vehicle (EV) Stocks That Have Real Juice"