RadNet (RDNT) Reaches New 1-Year High at $14.95

RadNet Inc. (NASDAQ:RDNT)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $14.95 and last traded at $14.90, with a volume of 9959 shares changing hands. The stock had previously closed at $14.50.

Several equities analysts recently issued reports on RDNT shares. Jefferies Financial Group set a $14.00 price target on RadNet and gave the company a “buy” rating in a report on Thursday, March 8th. FIX started coverage on RadNet in a report on Wednesday, March 14th. They issued a “strong-buy” rating and a $15.00 price target on the stock. Zacks Investment Research upgraded RadNet from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Raymond James started coverage on RadNet in a report on Wednesday, March 14th. They issued a “strong-buy” rating and a $15.00 price target on the stock. Finally, BidaskClub upgraded RadNet from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $14.75.

The firm has a market cap of $704.30 million, a PE ratio of 51.72, a PEG ratio of 5.00 and a beta of 0.42. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.12 and a quick ratio of 1.12.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Wednesday, May 9th. The medical research company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.19). The firm had revenue of $231.39 million during the quarter, compared to the consensus estimate of $234.32 million. RadNet had a negative net margin of 0.66% and a positive return on equity of 18.77%. RadNet’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) EPS. equities analysts expect that RadNet Inc. will post 0.37 earnings per share for the current fiscal year.

In other RadNet news, insider Norman R. Hames sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $12.77, for a total transaction of $191,550.00. Following the transaction, the insider now owns 322,450 shares in the company, valued at $4,117,686.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Norman R. Hames sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $14.17, for a total value of $141,700.00. Following the transaction, the insider now owns 292,450 shares in the company, valued at approximately $4,144,016.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,000 shares of company stock worth $1,117,750. Company insiders own 7.56% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in RadNet by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,550,709 shares of the medical research company’s stock worth $22,330,000 after buying an additional 4,117 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in RadNet by 10.6% during the first quarter. New York State Common Retirement Fund now owns 62,389 shares of the medical research company’s stock worth $898,000 after buying an additional 5,989 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its holdings in RadNet by 3.6% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 193,600 shares of the medical research company’s stock worth $1,954,000 after buying an additional 6,700 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in RadNet by 11.8% during the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 66,200 shares of the medical research company’s stock worth $953,000 after buying an additional 7,000 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in RadNet during the first quarter worth about $114,000. Hedge funds and other institutional investors own 57.75% of the company’s stock.

About RadNet

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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