Insider Selling: Radnet Director Unloads 26,752 Shares of Stock (RDNT)
Radnet (NASDAQ:RDNT) Director Michael L. Md Sherman sold 26,752 shares of Radnet stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $6.67, for a total transaction of $178,435.84. Following the completion of the sale, the director now directly owns 214,065 shares in the company, valued at approximately $1,427,814. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Radnet (NASDAQ:RDNT) traded up 7.14% on Friday, hitting $7.4999. 1,640,144 shares of the company’s stock traded hands. Radnet has a 52 week low of $1.50 and a 52 week high of $7.08. The stock’s 50-day moving average is $5.71 and its 200-day moving average is $3.09. The company’s market cap is $313.1 million. Radnet also was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 1,345,399 shares, a growth of 79.3% from the April 30th total of 750,566 shares. Currently, 4.5% of the company’s shares are short sold. Based on an average daily volume of 1,354,851 shares, the days-to-cover ratio is presently 1.0 days.
Radnet (NASDAQ:RDNT) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.06) by $0.03. The company had revenue of $168.90 million for the quarter, compared to the consensus estimate of $173.53 million. On average, analysts predict that Radnet will post $0.19 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on RDNT shares. Analysts at Deutsche Bank raised their price target on shares of Radnet to $9.00 in a research note on Thursday.
RadNet, Inc (NASDAQ:RDNT) operates a group of regional networks comprising 180 diagnostic imaging facilities located in seven states with operations in California, Maryland, the Treasure Coast area of Florida, Kansas, Delaware, New Jersey and the Finger Lakes (Rochester) and Hudson Valley areas of New York.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.