RadNet (NASDAQ:RDNT) Trading 5.8% Higher

RadNet Inc. (NASDAQ:RDNT)’s share price was up 5.8% during mid-day trading on Wednesday . The company traded as high as $15.74 and last traded at $15.68. Approximately 223,266 shares traded hands during trading, a decline of 41% from the average daily volume of 375,548 shares. The stock had previously closed at $14.82.

A number of equities research analysts recently issued reports on RDNT shares. Zacks Investment Research raised shares of RadNet from a “sell” rating to a “hold” rating and set a $20.00 price target on the stock in a research note on Wednesday, August 12th. Sidoti upped their price target on shares of RadNet from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Raymond James upped their price target on shares of RadNet from $18.50 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, BidaskClub raised shares of RadNet from a “sell” rating to a “hold” rating in a research note on Monday, September 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $21.67.

The business has a fifty day moving average price of $16.02 and a 200 day moving average price of $15.05. The company has a market capitalization of $808.70 million, a PE ratio of -54.89 and a beta of 1.54. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.65 and a current ratio of 0.65.

RadNet (NASDAQ:RDNT) last issued its earnings results on Monday, August 10th. The medical research company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.28. RadNet had a negative return on equity of 4.28% and a negative net margin of 1.25%. The company had revenue of $190.60 million during the quarter, compared to analyst estimates of $190.58 million. During the same quarter last year, the firm earned $0.12 EPS. The business’s revenue was down 34.1% on a year-over-year basis. Research analysts forecast that RadNet Inc. will post -0.32 earnings per share for the current fiscal year.

In other news, insider Norman R. Hames sold 5,000 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $15.53, for a total transaction of $77,650.00. Following the sale, the insider now directly owns 527,619 shares of the company’s stock, valued at $8,193,923.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.77% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of RadNet by 0.3% during the second quarter. Vanguard Group Inc. now owns 2,592,054 shares of the medical research company’s stock worth $41,137,000 after buying an additional 7,402 shares during the last quarter. Beck Mack & Oliver LLC grew its holdings in shares of RadNet by 2.1% during the second quarter. Beck Mack & Oliver LLC now owns 1,934,444 shares of the medical research company’s stock valued at $30,700,000 after buying an additional 39,175 shares in the last quarter. State Street Corp grew its holdings in shares of RadNet by 7.3% during the first quarter. State Street Corp now owns 1,306,749 shares of the medical research company’s stock valued at $13,734,000 after buying an additional 88,973 shares in the last quarter. Global Alpha Capital Management Ltd. grew its holdings in shares of RadNet by 7.2% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,100,149 shares of the medical research company’s stock valued at $11,563,000 after buying an additional 73,700 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its holdings in shares of RadNet by 24.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,011,692 shares of the medical research company’s stock valued at $10,633,000 after buying an additional 200,808 shares in the last quarter. 67.33% of the stock is currently owned by institutional investors.

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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