RadNet Inc. (NASDAQ:RDNT) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $13.25 and last traded at $13.22, with a volume of 326479 shares trading hands. The stock had previously closed at $12.65.
A number of research analysts recently commented on the company. BidaskClub raised RadNet from a “hold” rating to a “buy” rating in a research note on Wednesday. FIX began coverage on RadNet in a research note on Wednesday. They set a “strong-buy” rating and a $15.00 target price for the company. Zacks Investment Research raised RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Group set a $14.00 target price on RadNet and gave the stock a “buy” rating in a research note on Thursday, March 8th. Finally, Raymond James Financial began coverage on RadNet in a research note on Wednesday. They set a “strong-buy” rating and a $15.00 target price for the company. One analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $13.75.
The company has a debt-to-equity ratio of 7.88, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $590.54, a P/E ratio of -1,325,000.00, a PEG ratio of 2.67 and a beta of 0.69.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, March 8th. The medical research company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The firm had revenue of $235.50 million during the quarter, compared to analyst estimates of $228.46 million. RadNet had a net margin of 0.01% and a return on equity of 26.66%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. equities analysts anticipate that RadNet Inc. will post 0.58 EPS for the current year.
In other news, insider John V. Crues sold 19,684 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $10.01, for a total transaction of $197,036.84. Following the completion of the sale, the insider now directly owns 544,097 shares of the company’s stock, valued at approximately $5,446,410.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $9.96, for a total value of $49,800.00. Following the sale, the executive vice president now directly owns 365,087 shares of the company’s stock, valued at $3,636,266.52. The disclosure for this sale can be found here. Company insiders own 9.36% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new stake in shares of RadNet in the 4th quarter worth approximately $128,000. LPL Financial LLC purchased a new stake in shares of RadNet in the fourth quarter worth approximately $132,000. Voya Investment Management LLC raised its holdings in shares of RadNet by 19.5% in the second quarter. Voya Investment Management LLC now owns 21,726 shares of the medical research company’s stock worth $168,000 after buying an additional 3,546 shares during the period. Alambic Investment Management L.P. purchased a new stake in shares of RadNet in the fourth quarter worth approximately $176,000. Finally, Smith Asset Management Group LP purchased a new stake in shares of RadNet in the fourth quarter worth approximately $192,000. 56.53% of the stock is owned by hedge funds and other institutional investors.
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RadNet Company Profile
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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