RadNet Inc. (NASDAQ:RDNT) insider Stephen M. Forthuber sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $7.18, for a total transaction of $143,600.00. Following the completion of the transaction, the insider now directly owns 397,724 shares in the company, valued at approximately $2,855,658.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of RadNet Inc. (NASDAQ:RDNT) opened at 7.32 on Monday. RadNet Inc. has a 12-month low of $4.66 and a 12-month high of $7.50. The stock’s 50 day moving average price is $6.67 and its 200-day moving average price is $5.66. The company has a market cap of $339.88 million, a PE ratio of 31.83 and a beta of 1.50.
RadNet (NASDAQ:RDNT) last announced its earnings results on Tuesday, August 9th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $224.60 million for the quarter, compared to the consensus estimate of $220.09 million. RadNet had a net margin of 1.25% and a return on equity of 43.03%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. On average, equities research analysts forecast that RadNet Inc. will post $0.26 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in RDNT. American Century Companies Inc. increased its position in RadNet by 0.9% in the second quarter. American Century Companies Inc. now owns 178,333 shares of the company’s stock valued at $952,000 after buying an additional 1,514 shares during the last quarter. Oxford Asset Management increased its position in RadNet by 17.5% in the second quarter. Oxford Asset Management now owns 164,170 shares of the company’s stock valued at $877,000 after buying an additional 24,505 shares during the last quarter. Renaissance Technologies LLC increased its position in RadNet by 15.0% in the first quarter. Renaissance Technologies LLC now owns 208,700 shares of the company’s stock valued at $1,008,000 after buying an additional 27,300 shares during the last quarter. Bank of Montreal Can bought a new position in RadNet during the second quarter valued at about $102,000. Finally, Geode Capital Management LLC increased its position in RadNet by 0.8% in the first quarter. Geode Capital Management LLC now owns 227,019 shares of the company’s stock valued at $1,096,000 after buying an additional 1,819 shares during the last quarter. Hedge funds and other institutional investors own 47.07% of the company’s stock.
A number of brokerages have issued reports on RDNT. B. Riley reissued a “buy” rating and issued a $9.00 target price on shares of RadNet in a report on Saturday, September 3rd. Jefferies Group reissued a “hold” rating on shares of RadNet in a report on Friday, August 5th. Zacks Investment Research raised shares of RadNet from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Saturday, August 13th. Finally, Sterne Agee CRT assumed coverage on shares of RadNet in a report on Thursday, June 2nd. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. RadNet presently has an average rating of “Buy” and a consensus target price of $8.25.
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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