RadNet Inc. (NASDAQ:RDNT) – Stock analysts at Craig Hallum cut their FY2016 earnings per share (EPS) estimates for shares of RadNet in a research report issued to clients and investors on Wednesday. Craig Hallum analyst B. Bonello now forecasts that the firm will earn $0.20 per share for the year, down from their previous forecast of $0.29. Craig Hallum has a “Hold” rating on the stock.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of RadNet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th. B. Riley restated a “buy” rating and issued a $9.00 price target on shares of RadNet in a research report on Monday, August 29th. Finally, Jefferies Group restated a “hold” rating and issued a $7.00 price target on shares of RadNet in a research report on Thursday, November 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.00.

Earnings History and Estimates for RadNet (NASDAQ:RDNT)

RadNet (NASDAQ:RDNT) opened at 6.60 on Monday. RadNet has a 12 month low of $4.66 and a 12 month high of $7.98. The firm’s 50-day moving average is $7.23 and its 200 day moving average is $6.19. The firm has a market capitalization of $306.68 million, a price-to-earnings ratio of 68.75 and a beta of 1.59.

RadNet (NASDAQ:RDNT) last issued its earnings results on Wednesday, November 9th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.07. RadNet had a return on equity of 22.29% and a net margin of 0.51%. The company had revenue of $224.60 million for the quarter, compared to analyst estimates of $223.31 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in RDNT. Redwood Investments LLC boosted its position in RadNet by 32.9% in the second quarter. Redwood Investments LLC now owns 442,430 shares of the company’s stock valued at $2,363,000 after buying an additional 109,563 shares during the last quarter. American Century Companies Inc. boosted its position in shares of RadNet by 0.9% in the second quarter. American Century Companies Inc. now owns 178,333 shares of the company’s stock valued at $952,000 after buying an additional 1,514 shares in the last quarter. Oxford Asset Management boosted its position in shares of 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 in the last quarter. California Public Employees Retirement System boosted its position in shares of 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 in the last quarter. Finally, Cheyne Capital Management UK LLP boosted its position in shares of RadNet by 6.4% in the second quarter. Cheyne Capital Management UK LLP now owns 268,907 shares of the company’s stock valued at $1,437,000 after buying an additional 16,098 shares in the last quarter. 47.97% of the stock is currently owned by hedge funds and other institutional investors.

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

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.

5 Day Chart for NASDAQ:RDNT

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