RadNet Inc. (NASDAQ:RDNT) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 934,100 shares, an increase of 21.7% from the July 31st total of 767,600 shares. Based on an average trading volume of 238,900 shares, the short-interest ratio is presently 3.9 days. Approximately 2.3% of the company’s stock are sold short.
In other RadNet news, insider Norman R. Hames sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $13.09, for a total value of $261,800.00. Following the sale, the insider now directly owns 559,158 shares in the company, valued at $7,319,378.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John V. Crues sold 50,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $15.07, for a total value of $753,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 120,703 shares of company stock worth $1,784,650. Insiders own 6.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC purchased a new position in shares of RadNet during the first quarter worth about $34,000. Aperio Group LLC purchased a new position in shares of RadNet during the second quarter worth about $36,000. Oppenheimer Asset Management Inc. purchased a new position in shares of RadNet during the second quarter worth about $40,000. US Bancorp DE grew its holdings in shares of RadNet by 34.0% during the second quarter. US Bancorp DE now owns 3,325 shares of the medical research company’s stock worth $46,000 after purchasing an additional 844 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of RadNet by 485.7% during the first quarter. BNP Paribas Arbitrage SA now owns 8,399 shares of the medical research company’s stock worth $104,000 after purchasing an additional 6,965 shares during the last quarter. 61.62% of the stock is currently owned by institutional investors.
RDNT has been the topic of a number of analyst reports. Zacks Investment Research cut RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday. TheStreet cut RadNet from a “b-” rating to a “c” rating in a research note on Tuesday, June 4th. Finally, BidaskClub cut RadNet from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.75.
Shares of RDNT stock traded up $0.09 during mid-day trading on Friday, hitting $15.13. 187,803 shares of the stock were exchanged, compared to its average volume of 253,462. The stock’s fifty day simple moving average is $14.56 and its two-hundred day simple moving average is $13.59. The stock has a market capitalization of $758.42 million, a price-to-earnings ratio of 22.92, a P/E/G ratio of 5.72 and a beta of 0.93. RadNet has a 12-month low of $9.97 and a 12-month high of $16.54. The company has a debt-to-equity ratio of 5.09, a quick ratio of 0.80 and a current ratio of 0.80.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, August 8th. The medical research company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $289.10 million for the quarter, compared to analysts’ expectations of $272.36 million. RadNet had a return on equity of 18.91% and a net margin of 3.33%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. On average, research analysts expect that RadNet will post 0.33 earnings per share for the current fiscal year.
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.
Further Reading: Why does a company issue an IPO?
Receive News & Ratings for RadNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet and related companies with MarketBeat.com's FREE daily email newsletter.