RDNT has been the topic of a number of other reports. Zacks Investment Research cut shares of RadNet from a hold rating to a sell rating in a report on Tuesday, August 20th. TheStreet lowered shares of RadNet from a b- rating to a c rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $17.75.
RDNT stock opened at $14.52 on Wednesday. The company has a market capitalization of $698.27 million, a PE ratio of 22.00, a P/E/G ratio of 5.63 and a beta of 0.93. RadNet has a 12 month low of $9.97 and a 12 month high of $16.54. The firm’s 50-day moving average is $14.56 and its 200 day moving average is $13.59. The company has a debt-to-equity ratio of 5.09, a current ratio of 0.80 and a quick ratio of 0.80.
RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, August 8th. The medical research company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). RadNet had a return on equity of 18.91% and a net margin of 3.33%. The business had revenue of $289.10 million for the quarter, compared to the consensus estimate of $272.36 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm’s revenue was up 18.3% on a year-over-year basis. Sell-side analysts forecast that RadNet will post 0.33 EPS for the current fiscal year.
In other news, Director Michael L. Md Sherman sold 30,000 shares of RadNet stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $15.19, for a total transaction of $455,700.00. Following the completion of the transaction, the director now directly owns 259,083 shares of the company’s stock, valued at approximately $3,935,470.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mark Stolper sold 20,703 shares of RadNet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $15.15, for a total transaction of $313,650.45. The disclosure for this sale can be found here. Insiders have sold a total of 120,703 shares of company stock valued at $1,784,650 over the last three months. 6.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE boosted its stake in RadNet by 34.0% during the 2nd quarter. US Bancorp DE now owns 3,325 shares of the medical research company’s stock worth $46,000 after purchasing an additional 844 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in RadNet by 11.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,390 shares of the medical research company’s stock worth $157,000 after purchasing an additional 1,132 shares during the last quarter. Northern Trust Corp boosted its position in shares of RadNet by 0.4% during the 2nd quarter. Northern Trust Corp now owns 528,414 shares of the medical research company’s stock valued at $7,287,000 after acquiring an additional 1,885 shares during the last quarter. Aperio Group LLC acquired a new position in shares of RadNet during the 2nd quarter valued at about $36,000. Finally, Quantamental Technologies LLC acquired a new position in shares of RadNet during the 1st quarter valued at about $34,000. 61.62% of the stock is currently owned by institutional investors.
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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