S&P Equity Research Downgrades NightHawk Radiology (NHWK) to Strong Sell
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S&P Equity Research downgrades NightHawk Radiology (Nasdaq: NHWK) from Sell to Strong Sell.
S&P analyst, H. Saftlas, says, 'We believe a recent CMS decision not to restrict Medicare reimbursement for cardiac CT angiography is a modest positive for NHWK, though we think the business is small, accounting for less than 2% of NHWK's revenues. More importantly, we remain concerned that the company may be struggling to make headway in the final radiological interpretations segment of the market. We also think NHWK has management issues, given the recent departure of its president and CFO. We are reducing our target price by $2 to $8, a market multiple of 13.3X our $0.60 '08 GAAP EPS estimate."
NightHawk Radiology Holdings, Inc. (NightHawk) provides radiology services to radiology groups and hospitals throughout the United States. [SM]
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NHWK
Bruce on May 7, 2008 11:30 AMI work for the hospital (Brooklyn Hospital) in NYC and we absolutely love this company. The reads are super fast. The radiologists are always easy to reach. I see this as a bellweather of RadReads just like the Ebay of auctions and with more bandwith available soon....it will be growing very fast. Strong buy in my book