Shares of RadNet Inc. (NASDAQ:RDNT) have received a consensus rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $14.67.
A number of research firms have issued reports on RDNT. BidaskClub upgraded shares of RadNet from a “hold” rating to a “buy” rating in a research report on Saturday, October 13th. Zacks Investment Research upgraded shares of RadNet from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Wednesday, October 10th.
In other RadNet news, insider Jeffrey L. Linden sold 10,000 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $14.78, for a total value of $147,800.00. Following the completion of the sale, the insider now owns 902,001 shares in the company, valued at approximately $13,331,574.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Norman R. Hames sold 14,000 shares of the stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $15.59, for a total transaction of $218,260.00. Following the completion of the sale, the insider now owns 589,000 shares of the company’s stock, valued at approximately $9,182,510. The disclosure for this sale can be found here. 7.56% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in RDNT. FMR LLC purchased a new stake in RadNet in the 2nd quarter worth approximately $21,532,000. BlackRock Inc. increased its stake in shares of RadNet by 21.1% during the 3rd quarter. BlackRock Inc. now owns 3,089,617 shares of the medical research company’s stock worth $46,499,000 after purchasing an additional 537,422 shares during the last quarter. Cheyne Capital Management UK LLP increased its stake in shares of RadNet by 119.7% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 771,992 shares of the medical research company’s stock worth $11,618,000 after purchasing an additional 420,599 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of RadNet by 20.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,414,812 shares of the medical research company’s stock worth $36,222,000 after purchasing an additional 413,312 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. acquired a new position in shares of RadNet during the 3rd quarter worth $5,026,000. Institutional investors own 63.65% of the company’s stock.
Shares of NASDAQ:RDNT traded up $0.06 during mid-day trading on Monday, hitting $12.85. The stock had a trading volume of 216,021 shares, compared to its average volume of 254,115. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $625.00 million, a PE ratio of 44.31, a price-to-earnings-growth ratio of 4.77 and a beta of 0.36. RadNet has a 12-month low of $9.50 and a 12-month high of $16.54.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Friday, November 9th. The medical research company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.05). RadNet had a negative net margin of 0.44% and a positive return on equity of 14.62%. The firm had revenue of $242.10 million during the quarter, compared to analysts’ expectations of $240.07 million. During the same quarter last year, the company posted $0.12 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts predict that RadNet will post 0.34 earnings per share for the current year.
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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