RadNet, Inc. (NASDAQ:RDNT) major shareholder Sandy Nyholm Kaminsky sold 1,100,000 shares of RadNet stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $10.95, for a total value of $12,045,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
RadNet, Inc. (NASDAQ:RDNT) opened at 11.50 on Thursday. RadNet, Inc. has a 12-month low of $5.25 and a 12-month high of $11.90. The stock has a 50 day moving average price of $10.57 and a 200 day moving average price of $7.90. The stock has a market cap of $543.56 million, a P/E ratio of 60.53 and a beta of 0.95.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. RadNet had a net margin of 1.04% and a return on equity of 19.98%. The business had revenue of $230.00 million during the quarter, compared to the consensus estimate of $230.32 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, analysts forecast that RadNet, Inc. will post $0.30 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in RDNT. Trexquant Investment LP bought a new position in shares of RadNet in the 1st quarter valued at about $248,000. Prudential Financial Inc. lifted its holdings in shares of RadNet by 29.2% in the 1st quarter. Prudential Financial Inc. now owns 17,710 shares of the medical research company’s stock valued at $104,000 after acquiring an additional 4,000 shares during the last quarter. American International Group Inc. lifted its holdings in shares of RadNet by 7.0% in the 1st quarter. American International Group Inc. now owns 22,857 shares of the medical research company’s stock valued at $135,000 after acquiring an additional 1,500 shares during the last quarter. Spark Investment Management LLC bought a new position in shares of RadNet in the 1st quarter valued at about $125,000. Finally, Royce & Associates LP bought a new position in shares of RadNet in the 1st quarter valued at about $118,000. 48.81% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on RDNT. BidaskClub raised RadNet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Jefferies Group LLC upgraded RadNet from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $7.00 to $12.00 in a report on Tuesday, August 22nd. TheStreet upgraded RadNet from a “c” rating to a “b-” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research downgraded RadNet from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $12.00.
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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