RadNet Inc. (NASDAQ:RDNT)’s stock price shot up 8.7% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $9.66 and last traded at $10.12, 284,383 shares changed hands during trading. A decline of 53% from the average session volume of 611,176 shares. The stock had previously closed at $9.31.
Specifically, insider B. Kaplan Survivor’s Tru Karen bought 10,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were purchased at an average price of $5.99 per share, for a total transaction of $59,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.10% of the company’s stock.
A number of equities analysts have issued reports on RDNT shares. ValuEngine cut RadNet from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub downgraded RadNet from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 17th. Sidoti upped their price objective on RadNet from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Zacks Investment Research raised RadNet from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research note on Wednesday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $18.88.
The company has a 50 day moving average price of $18.46 and a 200-day moving average price of $17.90. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 4.62. The company has a market cap of $471.96 million, a price-to-earnings ratio of 39.79 and a beta of 0.93.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Thursday, March 12th. The medical research company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.06. RadNet had a return on equity of 7.32% and a net margin of 1.28%. The company had revenue of $300.80 million during the quarter, compared to the consensus estimate of $294.16 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The firm’s revenue was up 16.9% compared to the same quarter last year. On average, analysts forecast that RadNet Inc. will post 0.53 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Samalin Investment Counsel LLC acquired a new position in shares of RadNet in the fourth quarter valued at approximately $110,000. LS Investment Advisors LLC bought a new stake in RadNet in the fourth quarter valued at approximately $129,000. SG Americas Securities LLC bought a new stake in RadNet in the fourth quarter valued at approximately $152,000. Zebra Capital Management LLC boosted its holdings in RadNet by 35.5% in the third quarter. Zebra Capital Management LLC now owns 14,077 shares of the medical research company’s stock valued at $203,000 after acquiring an additional 3,691 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in RadNet by 8,824.0% in the fourth quarter. Captrust Financial Advisors now owns 11,155 shares of the medical research company’s stock valued at $225,000 after acquiring an additional 11,030 shares during the last quarter. 72.14% of the stock is owned by institutional investors.
About RadNet (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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