RadNet, Inc. (RDNT) Upgraded at BidaskClub
BidaskClub upgraded shares of RadNet, Inc. (NASDAQ:RDNT) from a buy rating to a strong-buy rating in a report issued on Thursday morning.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of RadNet from a sell rating to a hold rating in a report on Wednesday, May 17th. Jefferies Group LLC raised shares of RadNet from a hold rating to a buy rating and lifted their price target for the company from $7.00 to $12.00 in a report on Tuesday, August 22nd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $9.42.
RadNet (RDNT) opened at 9.70 on Thursday. The firm has a market cap of $458.48 million, a price-to-earnings ratio of 51.05 and a beta of 1.01. RadNet has a 1-year low of $5.25 and a 1-year high of $10.05. The company’s 50 day moving average is $8.06 and its 200-day moving average is $6.89.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. The company had revenue of $230 million for the quarter, compared to analyst estimates of $230.32 million. RadNet had a net margin of 1.04% and a return on equity of 19.98%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. On average, analysts predict that RadNet will post $0.29 EPS for the current fiscal year.
In related news, insider Jeffrey L. Linden sold 10,104 shares of RadNet stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $9.91, for a total transaction of $100,130.64. Following the sale, the insider now directly owns 960,193 shares in the company, valued at approximately $9,515,512.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Norman R. Hames sold 10,000 shares of RadNet stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $7.38, for a total transaction of $73,800.00. Following the sale, the insider now owns 447,131 shares in the company, valued at $3,299,826.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,682 shares of company stock worth $822,173. 9.36% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. State Street Corp increased its stake in RadNet by 9.1% in the fourth quarter. State Street Corp now owns 614,416 shares of the medical research company’s stock valued at $3,962,000 after buying an additional 51,027 shares in the last quarter. Beck Mack & Oliver LLC increased its stake in RadNet by 17.0% in the first quarter. Beck Mack & Oliver LLC now owns 219,901 shares of the medical research company’s stock valued at $1,297,000 after buying an additional 32,000 shares in the last quarter. Adams Diversified Equity Fund Inc. increased its stake in RadNet by 45.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 193,100 shares of the medical research company’s stock valued at $1,139,000 after buying an additional 60,700 shares in the last quarter. TFS Capital LLC increased its stake in RadNet by 238.0% in the first quarter. TFS Capital LLC now owns 121,948 shares of the medical research company’s stock valued at $719,000 after buying an additional 85,872 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in RadNet during the first quarter valued at approximately $248,000. Institutional investors and hedge funds own 46.00% of the company’s stock.
RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.
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