RadNet, Inc. (NASDAQ:RDNT) insider Norman R. Hames sold 15,000 shares of RadNet stock in a transaction on Friday, May 18th. The shares were sold at an average price of $13.04, for a total value of $195,600.00. Following the transaction, the insider now owns 348,450 shares of the company’s stock, valued at approximately $4,543,788. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
RadNet opened at $12.80 on Thursday, MarketBeat.com reports. RadNet, Inc. has a 1-year low of $7.01 and a 1-year high of $14.85. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $624.70 million, a PE ratio of 44.14, a price-to-earnings-growth ratio of 4.43 and a beta of 0.42.
RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Wednesday, May 9th. The medical research company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.19). RadNet had a positive return on equity of 18.77% and a negative net margin of 0.66%. The business had revenue of $231.39 million during the quarter, compared to analysts’ expectations of $234.32 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. research analysts anticipate that RadNet, Inc. will post 0.37 EPS for the current fiscal year.
A number of research analysts have issued reports on the company. BidaskClub upgraded RadNet from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 23rd. Zacks Investment Research cut RadNet from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. ValuEngine upgraded RadNet from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Raymond James started coverage on RadNet in a research note on Wednesday, March 14th. They issued a “strong-buy” rating and a $15.00 price target for the company. Finally, FIX started coverage on RadNet in a research note on Wednesday, March 14th. They issued a “strong-buy” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a hold rating, three have assigned 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 price target of $14.75.
Several hedge funds have recently bought and sold shares of RDNT. Millennium Management LLC raised its stake in shares of RadNet by 927.5% in the first quarter. Millennium Management LLC now owns 295,806 shares of the medical research company’s stock worth $4,260,000 after purchasing an additional 267,016 shares during the last quarter. Mackay Shields LLC purchased a new stake in RadNet during the first quarter valued at $3,250,000. Renaissance Technologies LLC increased its position in RadNet by 18.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,404,444 shares of the medical research company’s stock valued at $14,185,000 after acquiring an additional 223,740 shares during the last quarter. Royce & Associates LP increased its position in RadNet by 683.9% during the fourth quarter. Royce & Associates LP now owns 176,368 shares of the medical research company’s stock valued at $1,781,000 after acquiring an additional 153,868 shares during the last quarter. Finally, Beck Mack & Oliver LLC increased its position in RadNet by 60.9% during the fourth quarter. Beck Mack & Oliver LLC now owns 352,916 shares of the medical research company’s stock valued at $3,564,000 after acquiring an additional 133,515 shares during the last quarter. Hedge funds and other institutional investors own 57.84% of the company’s stock.
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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