RadNet Inc. (RDNT) Sees Large Volume Increase
RadNet Inc. (NASDAQ:RDNT) shares saw unusually-strong trading volume on Wednesday . Approximately 282,014 shares traded hands during trading, an increase of 55% from the previous session’s volume of 182,415 shares.The stock last traded at $5.35 and had previously closed at $5.37.
RDNT has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 18th. B. Riley restated a “buy” rating and issued a $12.50 price objective on shares of RadNet in a research note on Thursday, March 10th. Jefferies Group lowered their price objective on shares of RadNet from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Tuesday, March 15th. Sterne Agee CRT initiated coverage on shares of RadNet in a research note on Thursday, June 2nd. They issued a “neutral” rating on the stock. Finally, Sidoti initiated coverage on shares of RadNet in a research note on Friday, April 15th. They issued a “buy” rating and a $9.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. RadNet currently has an average rating of “Hold” and a consensus target price of $8.06.
The firm has a 50 day moving average price of $5.23 and a 200-day moving average price of $5.41. The firm has a market cap of $252.89 million and a PE ratio of 23.46.
RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by $0.05. The company earned $216.40 million during the quarter, compared to analyst estimates of $205.01 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. Analysts forecast that RadNet Inc. will post $0.19 EPS for the current fiscal year.
A number of large investors have bought and sold shares of RDNT. American Century Companies Inc. boosted its stake in RadNet by 1.0% in the fourth quarter. American Century Companies Inc. now owns 164,463 shares of the company’s stock worth $1,016,000 after buying an additional 1,571 shares during the period. Oxford Asset Management acquired a new stake in RadNet during the fourth quarter worth $1,191,000. Redwood Investments LLC boosted its stake in RadNet by 28.2% in the fourth quarter. Redwood Investments LLC now owns 273,505 shares of the company’s stock worth $1,690,000 after buying an additional 60,127 shares during the period. Finally, California Public Employees Retirement System boosted its stake in RadNet by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 376,000 shares of the company’s stock worth $2,324,000 after buying an additional 11,300 shares during the period.
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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