According to Zacks, “RadNet, Inc., is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers. RadNet offers to its patients and referring physicians the full spectrum of diagnostic imaging exams, including PET/CT, MRI, CT, Nuclear Medicine, Mammography, Ultrasound and X-ray, as well as numerous other procedures. RadNet utilizes best of breed technology to appropriately serve the medical communities in which it operates. “
Other research analysts have also issued reports about the company. B. Riley reiterated a buy rating and set a $9.00 price target on shares of RadNet in a report on Saturday, September 3rd. Jefferies Group reiterated a hold rating on shares of RadNet in a report on Monday, July 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $8.25.
RadNet (NASDAQ:RDNT) opened at 7.49 on Wednesday. RadNet has a one year low of $4.66 and a one year high of $7.86. The stock’s 50 day moving average is $7.18 and its 200 day moving average is $5.91. The firm has a market cap of $347.78 million, a P/E ratio of 32.57 and a beta of 1.36.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. RadNet had a return on equity of 43.03% and a net margin of 1.25%. The company earned $224.60 million during the quarter, compared to analyst estimates of $220.09 million. During the same period in the previous year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that RadNet will post $0.26 earnings per share for the current year.
In related news, VP Mark Stolper sold 35,414 shares of the company’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $6.25, for a total value of $221,337.50. Following the completion of the transaction, the vice president now directly owns 170,319 shares in the company, valued at $1,064,493.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen M. Forthuber sold 20,000 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $7.18, for a total value of $143,600.00. Following the completion of the transaction, the insider now owns 397,724 shares of the company’s stock, valued at $2,855,658.32. The disclosure for this sale can be found here. 9.18% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in shares of RadNet during the second quarter worth $102,000. American International Group Inc. boosted its stake in shares of RadNet by 6.2% in the second quarter. American International Group Inc. now owns 21,381 shares of the company’s stock worth $114,000 after buying an additional 1,243 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of RadNet by 17.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 31,163 shares of the company’s stock worth $166,000 after buying an additional 4,522 shares during the period. Rhumbline Advisers boosted its stake in shares of RadNet by 5.0% in the second quarter. Rhumbline Advisers now owns 35,350 shares of the company’s stock worth $189,000 after buying an additional 1,685 shares during the period. Finally, Adams Diversified Equity Fund Inc. bought a new stake in shares of RadNet during the second quarter worth $330,000. Institutional investors and hedge funds own 47.04% of the company’s stock.
RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. The Company operates directly or indirectly through joint ventures with hospitals, approximately 300 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.
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