RadNet Inc. (RDNT) Shares Up 2.2%
Shares of RadNet Inc. (NASDAQ:RDNT) shot up 2.2% during mid-day trading on Thursday . The stock traded as high as $6.67 and last traded at $6.63, with a volume of 58,468 shares trading hands. The stock had previously closed at $6.49.
Several research firms recently issued reports on RDNT. B. Riley reissued a “buy” rating and issued a $9.00 price target on shares of RadNet in a research report on Sunday, August 14th. Jefferies Group reissued a “hold” rating on shares of RadNet in a research report on Friday, August 5th. Zacks Investment Research upgraded RadNet from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Saturday, August 13th. Finally, Sterne Agee CRT initiated coverage on RadNet in a research note on Thursday, June 2nd. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. RadNet presently has an average rating of “Buy” and a consensus target price of $8.25.
The company has a market cap of $308.31 million and a price-to-earnings ratio of 28.87. The firm’s 50-day moving average is $6.05 and its 200 day moving average is $5.48.
RadNet (NASDAQ:RDNT) last announced its 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 quarter in the prior year, the company earned $0.08 EPS. The business had revenue of $224.60 million for the quarter, compared to the consensus estimate of $220.09 million. RadNet’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that RadNet Inc. will post $0.26 earnings per share for the current year.
In related news, insider Jeffrey L. Linden sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $6.41, for a total transaction of $192,300.00. Following the completion of the transaction, the insider now owns 963,709 shares in the company, valued at $6,177,374.69. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Mark Stolper sold 35,414 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $6.25, for a total value of $221,337.50. Following the transaction, the vice president now owns 170,319 shares of the company’s stock, valued at approximately $1,064,493.75. 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.