RadNet Inc. (NASDAQ:RDNT) was the recipient 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. Based on an average daily trading volume, of 273,700 shares, the days-to-cover ratio is presently 4.0 days. Currently, 2.7% of the company’s shares are short sold.
Shares of RadNet stock traded up $0.27 during trading hours on Friday, reaching $14.49. The stock had a trading volume of 321,420 shares, compared to its average volume of 214,362. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.72 and a quick ratio of 0.72. RadNet has a 1 year low of $9.97 and a 1 year high of $16.54. The firm has a market capitalization of $712.16 million, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 5.42 and a beta of 1.10. The business’s 50 day simple moving average is $13.15.
RadNet (NASDAQ:RDNT) last posted its earnings results on Thursday, May 9th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). RadNet had a return on equity of 22.38% and a net margin of 3.53%. The business had revenue of $271.50 million during the quarter, compared to analyst estimates of $256.30 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities analysts predict that RadNet will post 0.35 earnings per share for the current fiscal year.
A number of research firms have recently commented on RDNT. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. Raymond James cut their price objective on Petrus Resources from C$1.25 to C$1.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. ValuEngine upgraded Yara International ASA from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 3rd. Finally, TheStreet downgraded TIM Participacoes from a “b” rating to a “c+” rating in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.75.
In other news, insider Norman R. Hames sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $13.09, for a total value of $261,800.00. Following the transaction, the insider now directly owns 559,158 shares in the company, valued at approximately $7,319,378.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael N. Murdock sold 21,667 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 100,575 shares in the company, valued at $1,330,607.25. The disclosure for this sale can be found here. Insiders have sold 61,667 shares of company stock worth $811,454 over the last quarter. 6.10% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in shares of RadNet in the first quarter valued at about $34,000. Financial Gravity Wealth Inc. acquired a new stake in shares of RadNet in the first quarter valued at about $35,000. PNC Financial Services Group Inc. acquired a new stake in shares of RadNet in the fourth quarter valued at about $36,000. Bell & Brown Wealth Advisors LLC acquired a new stake in shares of RadNet in the fourth quarter valued at about $102,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of RadNet by 485.7% in the first quarter. BNP Paribas Arbitrage SA now owns 8,399 shares of the medical research company’s stock valued at $104,000 after buying an additional 6,965 shares in the last quarter. Institutional investors and hedge funds own 63.97% 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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