RadNet Inc. (RDNT) Trading Down 2.5%
RadNet Inc. (NASDAQ:RDNT)’s share price traded down 2.5% during trading on Tuesday . The company traded as low as $6.09 and last traded at $6.13, with a volume of 53,373 shares trading hands. The stock had previously closed at $6.29.
A number of equities analysts recently commented on the company. B. Riley reissued a “buy” rating and set a $9.00 price target on shares of RadNet in a research note on Thursday, August 4th. Zacks Investment Research lowered RadNet from a “hold” rating to a “sell” rating in a research note on Saturday, August 6th. Sterne Agee CRT assumed coverage on RadNet in a research note on Thursday, June 2nd. They set a “neutral” rating for the company. Finally, Jefferies Group reissued a “hold” rating on shares of RadNet in a research note on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $8.25.
The stock’s 50 day moving average price is $5.83 and its 200 day moving average price is $5.43. The company has a market cap of $292.99 million and a price-to-earnings ratio of 27.43.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05. The company had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $220.09 million. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. Analysts predict that RadNet Inc. will post $0.24 EPS for the current year.
In related news, VP Mark Stolper sold 35,414 shares of RadNet stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $6.25, for a total value of $221,337.50. Following the completion of the transaction, the vice president now owns 170,319 shares in the company, valued at approximately $1,064,493.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
An institutional investor recently raised its position in RadNet stock. Redwood Investments LLC raised its stake in shares of RadNet Inc. (NASDAQ:RDNT) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 273,505 shares of the company’s stock after buying an additional 60,127 shares during the period. Redwood Investments LLC owned about 0.59% of RadNet worth $1,690,000 as of its most recent filing with the SEC.
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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