Clarus Sticks to Their Buy Rating for Akumin Inc

Wall Street analyst has provided a review for the NA company today, but retained the same rating on the stock. Akumin Inc (TSX: AKU.U) received a Buy rating from Clarus’ analyst Noel Atkinson.

Atkinson commented:

“We understand that Q1 showed the typical seasonal softness in procedures (usually about 2% less than the “average quarters” of the portfolio. Operating expenses were generally in line with our forecast, although the key measure of employee compensation was higher than expected at 33.1% of gross fee revenues. Minority interest allocation of net income in Q1 was about US$1MM, which was higher than we expected given the seasonality. Nonetheless, diluted EPS of US$0.02 was in line with our estimate. Adj. EBITDA to Akumin shareholders of US$6.8MM was nicely ahead of our US$6.0MM estimate and Adj. EBITDA margin of 20% was a bit ahead of our 19% forecast. Akumin Inc.”

According to TipRanks.com, Atkinson is ranked #78 out of 4800 analysts.

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Akumin Inc has an analyst consensus of Moderate Buy.

The company has a one-year high of $5 and a one-year low of $3.15. Currently, Akumin Inc has an average volume of 58.01K.

Akumin, Inc. engages in the proviison of outpatient diagnostic imaging services. Its services include magnetic resonance imaging, cat scan, positron emission tomography, ultrasound, x-ray, mammography, and other diagnostic or interventional radiology procedures. The company was founded on August 12, 2015 and is headquartered in Toronto, Canada.

The company’s shares closed on Wednesday at $3.95.

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