RadNet Inc. (NASDAQ:RDNT) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,160,000 shares, a decline of 18.3% from the January 15th total of 1,420,000 shares. Based on an average daily volume of 513,300 shares, the days-to-cover ratio is currently 2.3 days. Approximately 2.8% of the company’s shares are short sold.

RDNT traded up $0.17 during trading on Friday, reaching $22.87. The company had a trading volume of 169,836 shares, compared to its average volume of 285,140. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.77. RadNet has a 12 month low of $11.60 and a 12 month high of $23.35. The business’s fifty day moving average price is $21.20 and its 200 day moving average price is $17.29. The company has a market cap of $1.14 billion, a P/E ratio of 34.19, a PEG ratio of 5.32 and a beta of 0.92.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Tuesday, November 12th. The medical research company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.05). RadNet had a net margin of 3.02% and a return on equity of 16.52%. The company had revenue of $292.70 million during the quarter, compared to the consensus estimate of $283.39 million. During the same period in the previous year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts predict that RadNet will post 0.21 EPS for the current fiscal year.

In related news, insider Norman R. Hames sold 10,327 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $18.92, for a total transaction of $195,386.84. Following the completion of the transaction, the insider now owns 532,691 shares in the company, valued at $10,078,513.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John V. Crues sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.01, for a total transaction of $360,200.00. Following the transaction, the director now owns 414,097 shares of the company’s stock, valued at approximately $7,457,886.97. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in RadNet by 152.2% in the fourth quarter. Bank of New York Mellon Corp now owns 464,602 shares of the medical research company’s stock valued at $9,432,000 after buying an additional 280,355 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of RadNet by 82.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 158,479 shares of the medical research company’s stock worth $3,217,000 after purchasing an additional 71,821 shares in the last quarter. Public Sector Pension Investment Board bought a new stake in shares of RadNet in the fourth quarter worth $1,898,000. Mercer Global Advisors Inc. ADV lifted its position in shares of RadNet by 17.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,440 shares of the medical research company’s stock worth $253,000 after purchasing an additional 1,860 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in shares of RadNet in the fourth quarter worth $674,000. 63.43% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the stock. BidaskClub cut shares of RadNet from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Sidoti boosted their price objective on shares of RadNet from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Zacks Investment Research cut shares of RadNet from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, ValuEngine upgraded shares of RadNet from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $19.50.

About RadNet

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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