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. “
Several other research firms also recently commented on RDNT. B. Riley reiterated a buy rating and issued a $9.00 price objective on shares of RadNet in a report on Monday, August 29th. Jefferies Group restated a hold rating on shares of RadNet in a research note on Monday, July 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. RadNet currently has a consensus rating of Hold and an average target price of $8.25.
Shares of RadNet (NASDAQ:RDNT) traded down 0.13% during trading on Wednesday, hitting $7.48. 13,850 shares of the company’s stock were exchanged. The stock has a market cap of $347.31 million, a PE ratio of 32.52 and a beta of 1.36. RadNet has a 1-year low of $4.66 and a 1-year high of $7.86. The stock’s 50-day moving average price is $7.15 and its 200-day moving average price is $5.88.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. RadNet had a net margin of 1.25% and a return on equity of 43.03%. The firm had revenue of $224.60 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. On average, equities analysts expect that RadNet will post $0.26 earnings per share for the current fiscal year.
In other RadNet news, insider Stephen M. Forthuber sold 20,000 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $7.18, for a total transaction of $143,600.00. Following the sale, the insider now directly owns 397,724 shares in the company, valued at $2,855,658.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark Stolper sold 35,414 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $6.25, for a total transaction of $221,337.50. Following the sale, the vice president now owns 170,319 shares in the company, valued at $1,064,493.75. The disclosure for this sale can be found here. 9.18% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of RadNet during the second quarter worth about $102,000. American International Group Inc. increased 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 last quarter. Metropolitan Life Insurance Co. NY increased 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 last quarter. Rhumbline Advisers increased 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 last quarter. Finally, Adams Diversified Equity Fund Inc. purchased a new stake in shares of RadNet during the second quarter worth about $330,000. Hedge funds and other institutional investors 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for RadNet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.