Zacks Investment Research upgraded shares of RadNet (NASDAQ:RDNT) from a sell rating to a hold rating in a research report sent to investors on Wednesday, March 14th.
According to Zacks, “RadNet, Inc., is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers. RadNet offers to its patients and referring physicians the full spectrum of diagnostic imaging exams, including PET/CT, MRI, CT, Nuclear Medicine, Mammography, Ultrasound and X-ray, as well as numerous other procedures. RadNet utilizes best of breed technology to appropriately serve the medical communities in which it operates. “
RDNT has been the topic of several other research reports. FIX started coverage on shares of RadNet in a research note on Wednesday, March 14th. They set a strong-buy rating and a $15.00 target price on the stock. BidaskClub upgraded shares of RadNet from a sell rating to a hold rating in a research note on Saturday, January 6th. 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 stock. RadNet has a consensus rating of Strong Buy and an average price target of $14.75.
Shares of NASDAQ:RDNT traded down $0.15 during midday trading on Wednesday, reaching $14.40. The company’s stock had a trading volume of 333,855 shares, compared to its average volume of 501,945. RadNet has a 12-month low of $5.65 and a 12-month high of $14.55. The company has a market capitalization of $694.54, a PE ratio of 49.66, a P/E/G ratio of 3.33 and a beta of 0.39. The company has a debt-to-equity ratio of 8.22, a current ratio of 1.23 and a quick ratio of 1.23.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, March 8th. The medical research company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). RadNet had a net margin of 0.01% and a return on equity of 26.01%. The firm had revenue of $235.50 million for the quarter, compared to analysts’ expectations of $228.46 million. During the same period last year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. equities analysts anticipate that RadNet will post 0.54 EPS for the current fiscal year.
In other RadNet news, insider Jeffrey L. Linden sold 10,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $12,068,993.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marvin S. Cadwell sold 35,594 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $12.58, for a total transaction of $447,772.52. Following the sale, the director now owns 266,384 shares in the company, valued at approximately $3,351,110.72. The disclosure for this sale can be found here. Insiders sold a total of 108,927 shares of company stock worth $1,405,852 in the last quarter. Company insiders own 9.36% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in RadNet by 85.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 503,880 shares of the medical research company’s stock valued at $5,795,000 after buying an additional 232,524 shares in the last quarter. Renaissance Technologies LLC grew its holdings in RadNet by 18.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,404,444 shares of the medical research company’s stock valued at $14,185,000 after buying an additional 223,740 shares in the last quarter. EAM Investors LLC purchased a new stake in RadNet during the 3rd quarter valued at approximately $2,364,000. Royce & Associates LP grew its holdings in RadNet by 683.9% during the 4th quarter. Royce & Associates LP now owns 176,368 shares of the medical research company’s stock valued at $1,781,000 after buying an additional 153,868 shares in the last quarter. Finally, Beck Mack & Oliver LLC grew its holdings in RadNet by 60.9% during the 4th quarter. Beck Mack & Oliver LLC now owns 352,916 shares of the medical research company’s stock valued at $3,564,000 after buying an additional 133,515 shares in the last quarter. Institutional investors own 55.82% of the company’s stock.
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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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