FIX started coverage on shares of RadNet (NASDAQ:RDNT) in a research report released on Wednesday. The firm issued a strong-buy rating and a $15.00 price target on the medical research company’s stock.
Several other research analysts have also issued reports on the stock. Jefferies Group set a $14.00 target price on shares of RadNet and gave the stock a buy rating in a research note on Thursday, March 8th. Zacks Investment Research lowered shares of RadNet from a hold rating to a sell rating in a research note on Saturday, February 24th. Finally, BidaskClub raised shares of RadNet from a sell rating to a hold rating in a research note on Saturday, January 6th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $13.75.
Shares of RadNet (RDNT) opened at $12.45 on Wednesday. RadNet has a 12-month low of $5.35 and a 12-month high of $13.40. 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 $607.21, a price-to-earnings ratio of -1,245,000.00, a PEG ratio of 2.95 and a beta of 0.69.
RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Thursday, March 8th. The medical research company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The firm had revenue of $235.50 million for the quarter, compared to analyst estimates of $228.46 million. RadNet had a return on equity of 26.66% and a net margin of 0.01%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 earnings per share. research analysts anticipate that RadNet will post 0.54 EPS for the current year.
In related news, insider John V. Crues sold 19,684 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $10.01, for a total transaction of $197,036.84. Following the transaction, the insider now directly owns 544,097 shares of the company’s stock, valued at $5,446,410.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Norman R. Hames sold 5,000 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $9.96, for a total transaction of $49,800.00. Following the transaction, the executive vice president now directly owns 365,087 shares in the company, valued at $3,636,266.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,611 shares of company stock worth $1,454,838. 9.36% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in shares of RadNet by 1.9% in the second quarter. Wells Fargo & Company MN now owns 35,843 shares of the medical research company’s stock valued at $278,000 after buying an additional 654 shares in the last quarter. Northern Trust Corp lifted its stake in shares of RadNet by 5.2% in the second quarter. Northern Trust Corp now owns 436,407 shares of the medical research company’s stock valued at $3,382,000 after buying an additional 21,746 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of RadNet by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,284,852 shares of the medical research company’s stock valued at $9,957,000 after buying an additional 51,229 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RadNet by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,531,850 shares of the medical research company’s stock valued at $11,872,000 after buying an additional 112,194 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake 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 valued at $168,000 after buying an additional 3,546 shares in the last quarter. 56.53% of the stock is currently owned by institutional investors and hedge funds.
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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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