RadNet, Inc. (NASDAQ:RDNT) EVP Norman R. Hames sold 10,000 shares of the firm’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $12.87, for a total value of $128,700.00. Following the completion of the transaction, the executive vice president now directly owns 382,450 shares in the company, valued at $4,922,131.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
RDNT opened at $14.40 on Friday. The stock has a market capitalization of $694.54, a P/E ratio of 49.66, a P/E/G ratio of 3.33 and a beta of 0.39. RadNet, Inc. has a 12 month low of $5.65 and a 12 month high of $14.55. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 8.22.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, March 8th. The medical research company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The firm had revenue of $235.50 million during the quarter, compared to the consensus estimate of $228.46 million. RadNet had a return on equity of 26.01% and a net margin of 0.01%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 EPS. analysts anticipate that RadNet, Inc. will post 0.54 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new stake in shares of RadNet during the fourth quarter valued at approximately $128,000. LPL Financial LLC bought a new stake in shares of RadNet during the fourth quarter valued at approximately $132,000. Voya Investment Management LLC raised its stake in shares of RadNet by 19.5% during the second quarter. Voya Investment Management LLC now owns 21,726 shares of the medical research company’s stock valued at $168,000 after acquiring an additional 3,546 shares in the last quarter. Alambic Investment Management L.P. bought a new stake in shares of RadNet during the fourth quarter valued at approximately $176,000. Finally, Smith Asset Management Group LP bought a new stake in shares of RadNet during the fourth quarter valued at approximately $192,000. 55.82% of the stock is owned by hedge funds and other institutional investors.
RDNT has been the subject of a number of analyst reports. Zacks Investment Research upgraded RadNet from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Thursday, January 4th. BidaskClub upgraded RadNet from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Jefferies Group set a $14.00 price objective on RadNet and gave the company a “buy” rating in a research report on Thursday, March 8th. FIX initiated coverage on RadNet in a research report on Wednesday, March 14th. They set a “strong-buy” rating and a $15.00 price objective for the company. Finally, Raymond James Financial initiated coverage on RadNet in a research report on Wednesday, March 14th. They set a “strong-buy” rating and a $15.00 price objective for the company. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of “Strong Buy” and an average target price of $14.75.
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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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