RadNet, Inc. (NASDAQ:RDNT) insider Jeffrey L. Linden sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $13.09, for a total transaction of $130,900.00. Following the sale, the insider now owns 922,001 shares of the company’s stock, valued at approximately $12,068,993.09. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of RadNet stock traded down $0.15 on Friday, hitting $14.40. The stock had a trading volume of 333,855 shares, compared to its average volume of 501,945. RadNet, Inc. has a one year low of $5.65 and a one year high of $14.55. The stock has a market capitalization of $701.78, a price-to-earnings ratio of 49.66, a P/E/G ratio of 3.37 and a beta of 0.39. The company has a debt-to-equity ratio of 8.22, a quick ratio of 1.23 and a current ratio of 1.23.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, March 8th. The medical research company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $235.50 million during the quarter, compared to analysts’ expectations of $228.46 million. RadNet had a return on equity of 26.01% and a net margin of 0.01%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. equities research analysts forecast that RadNet, Inc. will post 0.54 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in RDNT. Wells Fargo & Company MN lifted its position in RadNet by 1.9% during 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 during the period. Alliancebernstein L.P. raised its position in shares of RadNet by 101.5% in the 2nd quarter. Alliancebernstein L.P. now owns 27,000 shares of the medical research company’s stock worth $209,000 after purchasing an additional 13,600 shares during the last quarter. Northern Trust Corp raised its position in shares of RadNet by 5.2% in the 2nd quarter. Northern Trust Corp now owns 436,407 shares of the medical research company’s stock worth $3,382,000 after purchasing an additional 21,746 shares during the last quarter. Vanguard Group Inc. raised its position in shares of RadNet by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,284,852 shares of the medical research company’s stock worth $9,957,000 after purchasing an additional 51,229 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in RadNet by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,531,850 shares of the medical research company’s stock worth $11,872,000 after buying an additional 112,194 shares in the last quarter. 55.82% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on RDNT. Zacks Investment Research raised shares of RadNet from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday. BidaskClub raised shares of RadNet from a “buy” rating to a “strong-buy” rating in a report on Friday, March 23rd. Raymond James Financial assumed coverage on shares of RadNet in a report on Wednesday, March 14th. They issued a “strong-buy” rating and a $15.00 price target on the stock. FIX assumed coverage on shares of RadNet in a research note on Wednesday, March 14th. They issued a “strong-buy” rating and a $15.00 target price on the stock. Finally, Jefferies Group set a $14.00 target price on shares of RadNet and gave the company a “buy” rating in a research note on Thursday, March 8th. Two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Strong Buy” and a consensus target price of $14.75.
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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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