Analysts at FIX assumed coverage on shares of RadNet (NASDAQ:RDNT) in a research report issued on Wednesday, March 14th. The brokerage set a “strong-buy” rating and a $15.00 price target on the medical research company’s stock. FIX’s price target points to a potential upside of 4.17% from the company’s current price.
A number of other analysts have also recently commented on the company. Zacks Investment Research cut RadNet from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. 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. Finally, BidaskClub raised RadNet from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Strong Buy” and a consensus price target of $14.75.
RDNT stock traded down $0.15 during trading on Wednesday, hitting $14.40. 333,855 shares of the company traded hands, compared to its average volume of 501,945. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 8.22. The stock has a market cap 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 has a 1 year low of $5.65 and a 1 year high of $14.55.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, March 8th. The medical research company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $235.50 million for the quarter, compared to analysts’ expectations of $228.46 million. RadNet had a net margin of 0.01% and a return on equity of 26.01%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. research analysts predict that RadNet will post 0.54 earnings per share for the current fiscal year.
In other RadNet news, VP Mark Stolper sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $13.19, for a total transaction of $197,850.00. Following the transaction, the vice president now owns 130,319 shares of the company’s stock, valued at $1,718,907.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey L. Linden sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $13.09, for a total value of $130,900.00. Following the transaction, the insider now directly owns 922,001 shares in the company, valued at approximately $12,068,993.09. The disclosure for this sale can be found here. Insiders have sold 108,927 shares of company stock worth $1,405,852 in the last three months. 9.36% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of RDNT. Wells Fargo & Company MN raised its position in 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 purchasing an additional 654 shares during the period. Northern Trust Corp raised its holdings 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 valued at $3,382,000 after buying an additional 21,746 shares during the period. Vanguard Group Inc. raised its holdings 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 valued at $9,957,000 after buying an additional 51,229 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $11,872,000 after buying an additional 112,194 shares during the period. Finally, Voya Investment Management LLC raised its holdings in shares of RadNet by 19.5% in the 2nd 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 during the period. Institutional investors own 55.82% of the company’s stock.
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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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