RadNet Inc. (NASDAQ:RDNT) Short Interest Update

RadNet Inc. (NASDAQ:RDNT) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totalling 1,082,900 shares, a decline of 32.0% from the May 30th total of 1,593,600 shares. Based on an average daily volume of 273,700 shares, the short-interest ratio is presently 4.0 days. Approximately 2.7% of the company’s shares are short sold.

NASDAQ RDNT traded up $0.28 during trading hours on Friday, hitting $14.50. 18,094 shares of the company’s stock traded hands, compared to its average volume of 204,401. The stock has a fifty day simple moving average of $13.12. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $709.13 million, a price-to-earnings ratio of 21.85, a P/E/G ratio of 5.33 and a beta of 1.10. RadNet has a 52 week low of $9.97 and a 52 week high of $16.54.

RadNet (NASDAQ:RDNT) last announced its earnings results on Thursday, May 9th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $271.50 million during the quarter, compared to analyst estimates of $256.30 million. RadNet had a net margin of 3.53% and a return on equity of 22.38%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) earnings per share. As a group, equities analysts predict that RadNet will post 0.35 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd. ValuEngine raised shares of Yara International ASA from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. TheStreet lowered shares of TIM Participacoes from a “b” rating to a “c+” rating in a research report on Tuesday, June 4th. Finally, Raymond James cut their target price on shares of Petrus Resources from C$1.25 to C$1.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $17.75.

In other news, insider Michael N. Murdock sold 21,667 shares of RadNet stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $13.23, for a total transaction of $286,654.41. Following the sale, the insider now owns 100,575 shares of the company’s stock, valued at approximately $1,330,607.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John V. Crues sold 20,000 shares of RadNet stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $13.15, for a total transaction of $263,000.00. Following the sale, the insider now directly owns 524,097 shares in the company, valued at approximately $6,891,875.55. The disclosure for this sale can be found here. Insiders have sold a total of 61,667 shares of company stock worth $811,454 in the last ninety days. Insiders own 6.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Moab Capital Partners LLC boosted its position in shares of RadNet by 46.0% in the fourth quarter. Moab Capital Partners LLC now owns 3,372,539 shares of the medical research company’s stock worth $34,299,000 after purchasing an additional 1,062,592 shares during the period. BlackRock Inc. boosted its position in shares of RadNet by 3.9% in the fourth quarter. BlackRock Inc. now owns 3,209,766 shares of the medical research company’s stock worth $32,644,000 after purchasing an additional 120,149 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of RadNet by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,581,140 shares of the medical research company’s stock worth $16,081,000 after purchasing an additional 12,736 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its position in shares of RadNet by 262.5% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 1,197,068 shares of the medical research company’s stock worth $14,832,000 after purchasing an additional 866,818 shares during the period. Finally, Cortina Asset Management LLC boosted its position in shares of RadNet by 32.5% during the second quarter. Cortina Asset Management LLC now owns 1,167,254 shares of the medical research company’s stock worth $16,096,000 after acquiring an additional 286,388 shares during the last quarter. Institutional investors and hedge funds own 63.97% of the company’s stock.

RadNet Company Profile

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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