Insider Selling: RadNet, Inc. (RDNT) Insider Sells $199,202.40 in Stock
RadNet, Inc. (NASDAQ:RDNT) insider Jeffrey L. Linden sold 18,192 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $10.95, for a total value of $199,202.40. Following the completion of the sale, the insider now owns 932,001 shares of the company’s stock, valued at $10,205,410.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of RadNet, Inc. (NASDAQ:RDNT) opened at 11.00 on Friday. The company has a market capitalization of $519.93 million, a P/E ratio of 57.89 and a beta of 0.92. RadNet, Inc. has a one year low of $5.25 and a one year high of $11.50. The stock has a 50 day moving average price of $9.49 and a 200-day moving average price of $7.45.
RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.07. RadNet had a return on equity of 19.98% and a net margin of 1.04%. The company had revenue of $230.00 million during the quarter, compared to the consensus estimate of $230.32 million. During the same quarter last year, the company earned $0.09 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that RadNet, Inc. will post $0.30 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in RDNT. Airain ltd bought a new stake in shares of RadNet in the 2nd quarter worth approximately $100,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of RadNet in the 2nd quarter worth approximately $102,000. Prudential Financial Inc. lifted its position in shares of RadNet by 29.2% in the 1st quarter. Prudential Financial Inc. now owns 17,710 shares of the medical research company’s stock worth $104,000 after acquiring an additional 4,000 shares during the period. Royce & Associates LP bought a new stake in shares of RadNet in the 1st quarter worth approximately $118,000. Finally, Spark Investment Management LLC bought a new stake in shares of RadNet in the 1st quarter worth approximately $125,000. Institutional investors own 48.81% of the company’s stock.
RDNT has been the subject of a number of research analyst reports. Jefferies Group LLC upgraded RadNet from a “hold” rating to a “buy” rating and boosted their price target for the company from $7.00 to $12.00 in a report on Tuesday, August 22nd. BidaskClub upgraded RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Finally, TheStreet upgraded RadNet from a “c” rating to a “b-” rating in a report on Thursday, August 24th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $9.63.
RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.
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