RadNet Inc. (NASDAQ:RDNT) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 1,082,900 shares, a decrease of 32.0% from the May 30th total of 1,593,600 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 273,700 shares, the short-interest ratio is currently 4.0 days.

RDNT traded up $0.22 during trading on Thursday, reaching $14.22. 376,372 shares of the stock traded hands, compared to its average volume of 260,146. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 4.74. The stock has a market capitalization of $697.13 million, a PE ratio of 21.55, a PEG ratio of 5.26 and a beta of 1.10. The company has a 50-day simple moving average of $13.12. RadNet has a 12 month low of $9.97 and a 12 month high of $16.54.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.08) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.08). The business had revenue of $271.50 million for the quarter, compared to analysts’ expectations of $256.30 million. RadNet had a net margin of 3.53% and a return on equity of 22.38%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Equities research analysts anticipate that RadNet will post 0.35 EPS for the current fiscal year.

In related news, insider Michael N. Murdock sold 21,667 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $13.23, for a total value of $286,654.41. Following the completion of the sale, the insider now directly owns 100,575 shares in the company, valued at $1,330,607.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Norman R. Hames sold 20,000 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $13.09, for a total value of $261,800.00. Following the completion of the sale, the insider now owns 559,158 shares of the company’s stock, valued at $7,319,378.22. The disclosure for this sale can be found here. Insiders sold 61,667 shares of company stock valued at $811,454 over the last 90 days. 6.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of RDNT. Moab Capital Partners LLC boosted its position in RadNet by 46.0% during the fourth quarter. Moab Capital Partners LLC now owns 3,372,539 shares of the medical research company’s stock valued at $34,299,000 after acquiring an additional 1,062,592 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its position in RadNet by 262.5% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 1,197,068 shares of the medical research company’s stock valued at $14,832,000 after acquiring an additional 866,818 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its position in RadNet by 63.1% during the first quarter. Global Alpha Capital Management Ltd. now owns 897,148 shares of the medical research company’s stock valued at $11,116,000 after acquiring an additional 347,100 shares during the last quarter. Cortina Asset Management LLC boosted its position in RadNet by 32.5% during the second quarter. Cortina Asset Management LLC now owns 1,167,254 shares of the medical research company’s stock valued at $16,096,000 after acquiring an additional 286,388 shares during the last quarter. Finally, Beck Mack & Oliver LLC boosted its position in RadNet by 27.7% during the first quarter. Beck Mack & Oliver LLC now owns 688,153 shares of the medical research company’s stock valued at $8,526,000 after acquiring an additional 149,250 shares during the last quarter. 63.97% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently weighed in on RDNT shares. Raymond James decreased their price objective on Petrus Resources from C$1.25 to C$1.00 and set an “outperform” rating for the company in a report on Friday, March 15th. TheStreet downgraded TIM Participacoes from a “b” rating to a “c+” rating in a report on Tuesday, June 4th. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine upgraded Yara International ASA from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $17.75.

RadNet Company Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.

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