Lawrence L. Levitt Sells 6,189 Shares of RadNet, Inc. (RDNT) Stock
RadNet, Inc. (NASDAQ:RDNT) Director Lawrence L. Levitt sold 6,189 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $11.04, for a total value of $68,326.56. Following the transaction, the director now directly owns 198,937 shares in the company, valued at $2,196,264.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
RadNet, Inc. (RDNT) opened at 11.00 on Friday. The firm has a 50-day moving average price of $9.49 and a 200-day moving average price of $7.45. RadNet, Inc. has a 52 week low of $5.25 and a 52 week high of $11.50. The stock has a market cap of $519.93 million, a P/E ratio of 57.89 and a beta of 0.92.
RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.11 earnings per share (EPS) 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 $230.00 million for the quarter, compared to the consensus estimate of $230.32 million. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts predict that RadNet, Inc. will post $0.30 EPS for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in shares of RadNet by 1.9% in the 2nd quarter. Wells Fargo & Company MN now owns 35,843 shares of the medical research company’s stock valued at $278,000 after purchasing an additional 654 shares during the period. Bank of America Corp DE raised its stake in shares of RadNet by 5.9% in the 1st quarter. Bank of America Corp DE now owns 26,580 shares of the medical research company’s stock valued at $157,000 after purchasing an additional 1,477 shares during the period. American International Group Inc. raised its stake in shares of RadNet by 7.0% in the 1st quarter. American International Group Inc. now owns 22,857 shares of the medical research company’s stock valued at $135,000 after purchasing an additional 1,500 shares during the period. National Planning Corp raised its stake in shares of RadNet by 9.8% in the 2nd quarter. National Planning Corp now owns 16,796 shares of the medical research company’s stock valued at $132,000 after purchasing an additional 1,500 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of RadNet by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,305 shares of the medical research company’s stock valued at $258,000 after purchasing an additional 1,997 shares during the period. 48.81% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the company. TheStreet raised RadNet from a “c” rating to a “b-” rating in a research report on Thursday, August 24th. BidaskClub upgraded RadNet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Finally, Jefferies Group LLC upgraded RadNet from a “hold” rating to a “buy” rating and boosted their target price for the company from $7.00 to $12.00 in a research note on Tuesday, August 22nd. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $9.63.
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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