RadNet Inc. (NASDAQ:RDNT) – Investment analysts at Jefferies Group issued their FY2019 earnings per share estimates for shares of RadNet in a research note issued to investors on Thursday. Jefferies Group analyst B. Tanquilut anticipates that the medical research company will earn $0.68 per share for the year. Jefferies Group has a “Buy” rating and a $14.00 price target on the stock.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of RadNet from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Thursday, January 4th. BidaskClub upgraded shares of RadNet from a “sell” rating to a “hold” rating in a report on Saturday, January 6th.
RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, March 8th. The medical research company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $235.50 million for the quarter, compared to the consensus estimate of $228.46 million. RadNet had a net margin of 0.01% and a return on equity of 26.66%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 EPS.
In related news, insider Norman R. Hames sold 10,000 shares of RadNet stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $9.87, for a total value of $98,700.00. Following the transaction, the insider now owns 380,087 shares in the company, valued at approximately $3,751,458.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Norman R. Hames sold 5,000 shares of RadNet stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $9.96, for a total transaction of $49,800.00. Following the completion of the transaction, the executive vice president now owns 365,087 shares in the company, valued at approximately $3,636,266.52. The disclosure for this sale can be found here. Insiders sold a total of 34,684 shares of company stock worth $345,537 in the last quarter. Insiders own 9.36% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in RDNT. JPMorgan Chase & Co. raised its holdings in RadNet by 85.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 503,880 shares of the medical research company’s stock worth $5,795,000 after acquiring an additional 232,524 shares during the period. Renaissance Technologies LLC raised its holdings in RadNet by 18.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,404,444 shares of the medical research company’s stock worth $14,185,000 after acquiring an additional 223,740 shares during the period. EAM Investors LLC bought a new position in RadNet in the 3rd quarter worth $2,364,000. Royce & Associates LP raised its holdings in RadNet by 683.9% in the 4th quarter. Royce & Associates LP now owns 176,368 shares of the medical research company’s stock worth $1,781,000 after acquiring an additional 153,868 shares during the period. Finally, Beck Mack & Oliver LLC raised its holdings in RadNet by 60.9% in the 4th quarter. Beck Mack & Oliver LLC now owns 352,916 shares of the medical research company’s stock worth $3,564,000 after acquiring an additional 133,515 shares during the period. Hedge funds and other institutional investors own 56.53% of the company’s stock.
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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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