RadNet, Inc. (RDNT) Upgraded at TheStreet
Several other analysts also recently weighed in on RDNT. Zacks Investment Research upgraded RadNet from a sell rating to a hold rating in a research report on Wednesday, May 17th. Jefferies Group LLC upgraded RadNet from a hold rating to a buy rating and boosted their price objective for the company from $7.00 to $12.00 in a research report on Tuesday, August 22nd. Finally, BidaskClub upgraded RadNet from a buy rating to a strong-buy rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. RadNet currently has an average rating of Buy and a consensus price target of $9.42.
Shares of RadNet (NASDAQ:RDNT) opened at 9.70 on Thursday. The firm has a market cap of $458.48 million, a PE ratio of 51.05 and a beta of 1.01. RadNet has a 12 month low of $5.25 and a 12 month high of $10.05. The stock’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 data on Tuesday, August 8th. The medical research company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.07. RadNet had a return on equity of 19.98% and a net margin of 1.04%. The firm had revenue of $230 million during the quarter, compared to the consensus estimate of $230.32 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Analysts forecast that RadNet will post $0.29 EPS for the current fiscal year.
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In other news, insider Jeffrey L. Linden sold 10,104 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $9.91, for a total transaction of $100,130.64. Following the transaction, the insider now directly owns 960,193 shares of the company’s stock, valued at $9,515,512.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Norman R. Hames sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $7.38, for a total value of $73,800.00. Following the transaction, the insider now directly owns 447,131 shares in the company, valued at $3,299,826.78. The disclosure for this sale can be found here. Insiders have sold 102,682 shares of company stock worth $822,173 over the last three months. Insiders own 9.36% of the company’s stock.
Several institutional investors have recently bought and sold shares of RDNT. Airain ltd acquired a new position in RadNet during the second quarter valued at about $100,000. Campbell & CO Investment Adviser LLC acquired a new position in RadNet during the second quarter valued at about $102,000. Prudential Financial Inc. boosted its position in RadNet by 29.2% in the first quarter. Prudential Financial Inc. now owns 17,710 shares of the medical research company’s stock valued at $104,000 after buying an additional 4,000 shares during the period. Royce & Associates LP acquired a new position in RadNet during the first quarter valued at about $118,000. Finally, Spark Investment Management LLC acquired a new position in RadNet during the first quarter valued at about $125,000. 46.00% of the stock is currently owned by hedge funds and other institutional investors.
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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