BidaskClub downgraded shares of RadNet (NASDAQ:RDNT) from a buy rating to a hold rating in a report released on Friday morning.
Separately, Zacks Investment Research upgraded shares of RadNet from a hold rating to a buy rating and set a $18.00 price objective for the company in a report on Wednesday, October 10th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $15.50.
Shares of NASDAQ RDNT opened at $14.39 on Friday. The stock has a market cap of $707.37 million, a PE ratio of 49.62, a price-to-earnings-growth ratio of 5.16 and a beta of 0.36. RadNet has a 1 year low of $9.50 and a 1 year high of $16.54. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 4.49.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, August 9th. The medical research company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The business had revenue of $244.40 million for the quarter, compared to analyst estimates of $239.34 million. RadNet had a negative net margin of 0.64% and a positive return on equity of 17.00%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. As a group, research analysts anticipate that RadNet will post 0.36 EPS for the current fiscal year.
In related news, insider Norman R. Hames sold 14,000 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $15.59, for a total transaction of $218,260.00. Following the transaction, the insider now directly owns 589,000 shares in the company, valued at $9,182,510. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey L. Linden sold 10,000 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $14.78, for a total transaction of $147,800.00. Following the transaction, the insider now owns 902,001 shares in the company, valued at $13,331,574.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,000 shares of company stock worth $506,660. 7.56% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in RDNT. United Services Automobile Association purchased a new position in RadNet during the second quarter worth about $156,000. Wedge Capital Management L L P NC boosted its holdings in RadNet by 16.5% during the third quarter. Wedge Capital Management L L P NC now owns 32,329 shares of the medical research company’s stock worth $487,000 after purchasing an additional 4,585 shares during the last quarter. First Trust Advisors LP boosted its holdings in RadNet by 19.5% during the second quarter. First Trust Advisors LP now owns 33,894 shares of the medical research company’s stock worth $508,000 after purchasing an additional 5,533 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in RadNet by 412.6% during the first quarter. Russell Investments Group Ltd. now owns 37,746 shares of the medical research company’s stock worth $544,000 after purchasing an additional 30,383 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in RadNet by 16.0% during the second quarter. Rhumbline Advisers now owns 39,205 shares of the medical research company’s stock worth $588,000 after purchasing an additional 5,398 shares during the last quarter. Institutional investors and hedge funds own 61.21% of the company’s stock.
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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