RadNet Inc. (RDNT) Trading 2.2% Higher
RadNet Inc. (NASDAQ:RDNT)’s share price traded up 2.2% on Thursday . The company traded as high as $6.67 and last traded at $6.63, with a volume of 58,468 shares traded. The stock had previously closed at $6.49.
A number of equities analysts have weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $9.00 price target on shares of RadNet in a research note on Thursday, August 4th. Sterne Agee CRT assumed coverage on shares of RadNet in a research note on Thursday, June 2nd. They set a “neutral” rating on the stock. Zacks Investment Research downgraded shares of RadNet from a “hold” rating to a “sell” rating in a research note on Saturday, August 6th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of RadNet in a research note on Friday, August 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. RadNet currently has a consensus rating of “Buy” and an average target price of $8.25.
The firm has a market capitalization of $306.92 million and a P/E ratio of 28.74. The stock has a 50 day moving average of $6.01 and a 200-day moving average of $5.47.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. During the same period last year, the company earned $0.08 earnings per share. The company earned $224.60 million during the quarter, compared to the consensus estimate of $220.09 million. The business’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts forecast that RadNet Inc. will post $0.26 EPS for the current fiscal year.
In related news, VP Mark Stolper sold 35,414 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $6.25, for a total transaction of $221,337.50. Following the completion of the sale, the vice president now directly owns 170,319 shares of the company’s stock, valued at approximately $1,064,493.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey L. Linden sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $6.41, for a total value of $192,300.00. Following the sale, the insider now directly owns 963,709 shares of the company’s stock, valued at $6,177,374.69. The disclosure for this sale can be found here.
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.