RadNet Inc. (NASDAQ:RDNT) – Equities researchers at Craig Hallum upped their FY2017 earnings per share estimates for shares of RadNet in a research report issued to clients and investors on Wednesday. Craig Hallum analyst B. Bonello now anticipates that the brokerage will post earnings per share of $0.36 for the year, up from their previous estimate of $0.35. Craig Hallum currently has a “Hold” rating on the stock.

RadNet (NASDAQ:RDNT) last released its earnings results on Wednesday, November 9th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.07. RadNet had a net margin of 0.51% and a return on equity of 22.79%. The business earned $224.60 million during the quarter, compared to analyst estimates of $223.31 million. During the same period last year, the business posted $0.10 EPS. RadNet’s revenue was up 7.8% compared to the same quarter last year.

Earnings History and Estimates for RadNet (NASDAQ:RDNT)

Other equities research analysts also recently issued reports about the company. B. Riley reiterated a “buy” rating and issued a $9.00 price target on shares of RadNet in a report on Saturday, September 3rd. Zacks Investment Research upgraded RadNet from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Saturday, August 13th. Finally, Jefferies Group reiterated a “hold” rating and issued a $7.00 price target on shares of RadNet in a report on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.00.

RadNet (NASDAQ:RDNT) traded up 2.26% during midday trading on Friday, reaching $6.80. The company’s stock had a trading volume of 216,424 shares. RadNet has a 1-year low of $4.66 and a 1-year high of $7.98. The company’s 50-day moving average price is $7.25 and its 200-day moving average price is $6.17. The company has a market capitalization of $315.98 million, a price-to-earnings ratio of 70.83 and a beta of 1.59.

In related news, insider Jeffrey L. Linden sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $6.41, for a total transaction of $192,300.00. Following the completion of the transaction, the insider now directly owns 963,709 shares in the company, valued at approximately $6,177,374.69. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephen M. Forthuber sold 20,000 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $7.18, for a total value of $143,600.00. Following the transaction, the insider now owns 397,724 shares of the company’s stock, valued at $2,855,658.32. The disclosure for this sale can be found here. Corporate insiders own 9.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of RDNT. Oxford Asset Management boosted its position in RadNet by 17.5% in the second quarter. Oxford Asset Management now owns 164,170 shares of the company’s stock valued at $877,000 after buying an additional 24,505 shares during the last quarter. California Public Employees Retirement System boosted its position in RadNet by 2.1% in the second quarter. California Public Employees Retirement System now owns 402,400 shares of the company’s stock valued at $2,149,000 after buying an additional 8,100 shares during the last quarter. California State Teachers Retirement System boosted its position in RadNet by 5.9% in the second quarter. California State Teachers Retirement System now owns 77,880 shares of the company’s stock valued at $416,000 after buying an additional 4,349 shares during the last quarter. Bank of New York Mellon Corp boosted its position in RadNet by 11.9% in the second quarter. Bank of New York Mellon Corp now owns 144,373 shares of the company’s stock valued at $771,000 after buying an additional 15,323 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new position in RadNet during the second quarter valued at about $440,000. Hedge funds and other institutional investors own 47.36% of the company’s stock.

About RadNet

RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. The Company operates directly or indirectly through joint ventures with hospitals, approximately 300 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.

5 Day Chart for NASDAQ:RDNT

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