RadNet Inc. (NASDAQ:RDNT)’s stock price reached a new 52-week high on Tuesday after Sidoti raised their price target on the stock from $20.00 to $23.00. Sidoti currently has a buy rating on the stock. RadNet traded as high as $20.09 and last traded at $20.06, with a volume of 16598 shares changing hands. The stock had previously closed at $19.82.
Several other equities research analysts have also recently commented on RDNT. Zacks Investment Research cut shares of RadNet from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. BidaskClub lowered shares of RadNet from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. RadNet presently has a consensus rating of “Hold” and an average target price of $19.50.
In related news, Director John V. Crues sold 20,000 shares of RadNet stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $18.01, for a total transaction of $360,200.00. Following the sale, the director now directly owns 414,097 shares in the company, valued at $7,457,886.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the stock. Aperio Group LLC bought a new stake in RadNet during the second quarter worth about $36,000. Oppenheimer Asset Management Inc. bought a new position in shares of RadNet during the second quarter valued at approximately $40,000. US Bancorp DE lifted its holdings in shares of RadNet by 34.0% during the second quarter. US Bancorp DE now owns 3,325 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 844 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of RadNet by 11.0% during the second quarter. Envestnet Asset Management Inc. now owns 11,390 shares of the medical research company’s stock valued at $157,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of RadNet during the second quarter valued at approximately $176,000. Institutional investors own 66.07% of the company’s stock.
The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $996.35 million, a P/E ratio of 30.38, a PEG ratio of 12.17 and a beta of 0.96. The business has a 50-day moving average price of $16.57 and a 200 day moving average price of $14.66.
RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Tuesday, November 12th. The medical research company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.05). The company had revenue of $292.70 million for the quarter, compared to the consensus estimate of $283.39 million. RadNet had a net margin of 3.02% and a return on equity of 16.52%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. As a group, research analysts forecast that RadNet Inc. will post 0.21 earnings per share for the current fiscal year.
RadNet Company Profile (NASDAQ:RDNT)
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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