RadNet, Inc. (NASDAQ:RDNT) Director Michael L. Md Sherman sold 8,035 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $11.02, for a total transaction of $88,545.70. Following the sale, the director now directly owns 301,957 shares in the company, valued at approximately $3,327,566.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
RadNet, Inc. (NASDAQ RDNT) opened at 11.35 on Wednesday. The company has a 50 day moving average of $8.90 and a 200-day moving average of $7.23. The stock has a market cap of $536.47 million, a P/E ratio of 59.74 and a beta of 0.92. RadNet, Inc. has a 12-month low of $5.25 and a 12-month high of $11.50.
RadNet (NASDAQ:RDNT) last issued its earnings results on Tuesday, August 8th. The medical research company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. The firm had revenue of $230.00 million for the quarter, compared to analyst estimates of $230.32 million. RadNet had a return on equity of 19.98% and a net margin of 1.04%. RadNet’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Equities analysts forecast that RadNet, Inc. will post $0.29 earnings per share for the current year.
Several large investors have recently made changes to their positions in RDNT. Airain ltd purchased a new position in shares of RadNet during the 2nd quarter valued at approximately $100,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of RadNet during the 2nd quarter valued at approximately $102,000. Prudential Financial Inc. lifted its position in shares of RadNet by 29.2% during the 1st quarter. Prudential Financial Inc. now owns 17,710 shares of the medical research company’s stock valued at $104,000 after buying an additional 4,000 shares in the last quarter. Royce & Associates LP purchased a new position in shares of RadNet during the 1st quarter valued at approximately $118,000. Finally, Spark Investment Management LLC purchased a new position in shares of RadNet during the 1st quarter valued at approximately $125,000. Hedge funds and other institutional investors own 48.81% of the company’s stock.
A number of brokerages have recently issued reports on RDNT. TheStreet raised shares of RadNet from a “c” rating to a “b-” rating in a report on Thursday, August 24th. BidaskClub raised shares of RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Jefferies Group LLC raised shares of RadNet from a “hold” rating to a “buy” rating and raised their price target for the company from $7.00 to $12.00 in a report on Tuesday, August 22nd. Finally, Zacks Investment Research raised shares of RadNet from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $9.63.
RadNet Company Profile
RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.
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