RadNet Inc. (RDNT) Rating Reiterated by Jefferies Group
RadNet Inc. (NASDAQ:RDNT)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Group in a research note issued on Thursday. They currently have a $7.00 target price on the stock. Jefferies Group’s price target indicates a potential upside of 2.94% from the stock’s previous close.
Several other research analysts have also issued reports on the company. Craig Hallum lowered RadNet from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Zacks Investment Research lowered RadNet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th. Finally, B. Riley reiterated a “buy” rating and issued a $9.00 price target on shares of RadNet in a report on Saturday, September 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $8.00.
Shares of RadNet (NASDAQ:RDNT) opened at 6.80 on Thursday. RadNet has a 12-month low of $4.66 and a 12-month high of $7.98. The company has a market cap of $315.98 million, a price-to-earnings ratio of 70.83 and a beta of 1.59. The firm has a 50 day moving average price of $7.25 and a 200-day moving average price of $6.17.
RadNet (NASDAQ:RDNT) last announced its earnings results on Wednesday, November 9th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.07. RadNet had a net margin of 0.51% and a return on equity of 22.29%. The business had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $223.31 million. During the same quarter last year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that RadNet will post $0.23 earnings per share for the current fiscal year.
In other RadNet 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 sale, the insider now owns 963,709 shares in the company, valued at $6,177,374.69. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 sale, the insider now owns 397,724 shares of the company’s stock, valued at approximately $2,855,658.32. The disclosure for this sale can be found here. Company insiders own 9.18% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. First Trust Advisors LP acquired a new position in shares of RadNet during the third quarter worth about $127,000. BlackRock Advisors LLC increased its position in shares of RadNet by 1.0% in the third quarter. BlackRock Advisors LLC now owns 18,716 shares of the company’s stock worth $138,000 after buying an additional 179 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of RadNet during the second quarter worth about $102,000. American International Group Inc. increased its position in shares of RadNet by 6.2% in the second quarter. American International Group Inc. now owns 21,381 shares of the company’s stock worth $114,000 after buying an additional 1,243 shares during the last quarter. Finally, Acrospire Investment Management LLC increased its position in shares of RadNet by 38.5% in the third quarter. Acrospire Investment Management LLC now owns 25,313 shares of the company’s stock worth $187,000 after buying an additional 7,031 shares during the last quarter. Institutional investors own 47.97% of the company’s stock.
RadNet Company Profile
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.
Receive News & Stock Ratings for RadNet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet Inc. and related stocks with our FREE daily email newsletter.