RadNet Inc. (RDNT) Insider Sells $143,600.00 in Stock
RadNet Inc. (NASDAQ:RDNT) insider Stephen M. Forthuber sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $7.18, for a total transaction of $143,600.00. Following the completion of the sale, the insider now directly owns 397,724 shares of the company’s stock, valued at $2,855,658.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of RadNet Inc. (NASDAQ:RDNT) opened at 7.14 on Thursday. The firm’s 50-day moving average is $6.59 and its 200-day moving average is $5.64. RadNet Inc. has a 1-year low of $4.66 and a 1-year high of $7.50. The company has a market capitalization of $331.52 million, a price-to-earnings ratio of 31.04 and a beta of 1.50.
RadNet (NASDAQ:RDNT) last posted 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. RadNet had a net margin of 1.25% and a return on equity of 43.03%. The business had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $220.09 million. During the same quarter in the previous year, the business posted $0.08 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. Analysts forecast that RadNet Inc. will post $0.26 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its position in RadNet by 5.6% in the first quarter. State Street Corp now owns 535,848 shares of the company’s stock worth $2,589,000 after buying an additional 28,523 shares during the period. Geode Capital Management LLC boosted its position in RadNet by 0.8% in the first quarter. Geode Capital Management LLC now owns 227,019 shares of the company’s stock worth $1,096,000 after buying an additional 1,819 shares during the period. Renaissance Technologies LLC boosted its position in RadNet by 15.0% in the first quarter. Renaissance Technologies LLC now owns 208,700 shares of the company’s stock worth $1,008,000 after buying an additional 27,300 shares during the period. Robotti Robert boosted its position in RadNet by 9.0% in the first quarter. Robotti Robert now owns 434,175 shares of the company’s stock worth $2,097,000 after buying an additional 35,850 shares during the period. Finally, Eqis Capital Management Inc. boosted its position in RadNet by 2.6% in the second quarter. Eqis Capital Management Inc. now owns 1,267,006 shares of the company’s stock worth $6,766,000 after buying an additional 32,250 shares during the period. Institutional investors and hedge funds own 47.07% of the company’s stock.
RDNT has been the subject of a number of recent research reports. B. Riley reissued a “buy” rating and set a $9.00 price target on shares of RadNet in a research report on Saturday, September 3rd. Zacks Investment Research raised shares of RadNet from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Saturday, August 13th. Jefferies Group reissued a “hold” rating on shares of RadNet in a research report on Friday, August 5th. Finally, Sterne Agee CRT initiated coverage on shares of RadNet in a research report on Thursday, June 2nd. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $8.25.
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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