Insider Selling: RadNet Inc. (RDNT) VP Sells 15,000 Shares of Stock
RadNet Inc. (NASDAQ:RDNT) VP Mark Stolper sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $7.33, for a total value of $109,950.00. Following the completion of the transaction, the vice president now directly owns 155,319 shares of the company’s stock, valued at $1,138,488.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
RadNet Inc. (NASDAQ:RDNT) traded down 0.68% during midday trading on Wednesday, hitting $7.35. The stock had a trading volume of 224,642 shares. RadNet Inc. has a 12-month low of $4.97 and a 12-month high of $7.98. The company has a market cap of $347.04 million, a price-to-earnings ratio of 47.73 and a beta of 1.40. The company has a 50-day moving average price of $6.29 and a 200-day moving average price of $6.14.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Wednesday, May 10th. The medical research company reported ($0.01) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.01). RadNet had a return on equity of 22.29% and a net margin of 0.51%. The business had revenue of $229 million during the quarter, compared to the consensus estimate of $223.50 million. During the same period in the previous year, the business earned ($0.04) EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts anticipate that RadNet Inc. will post $0.26 EPS for the current year.
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Several large investors have recently modified their holdings of RDNT. Prudential Financial Inc. increased its stake in shares of RadNet by 29.2% in the first quarter. Prudential Financial Inc. now owns 17,710 shares of the medical research company’s stock worth $104,000 after buying an additional 4,000 shares during the period. Cheyne Capital Management UK LLP increased its stake in shares of RadNet by 5.9% in the first quarter. Cheyne Capital Management UK LLP now owns 377,643 shares of the medical research company’s stock worth $2,219,000 after buying an additional 20,916 shares during the period. Trexquant Investment LP purchased a new stake in shares of RadNet during the first quarter worth $248,000. TFS Capital LLC increased its stake in shares of RadNet by 238.0% in the first quarter. TFS Capital LLC now owns 121,948 shares of the medical research company’s stock worth $719,000 after buying an additional 85,872 shares during the period. Finally, Adams Diversified Equity Fund Inc. increased its stake in shares of RadNet by 45.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 193,100 shares of the medical research company’s stock worth $1,139,000 after buying an additional 60,700 shares during the period. Institutional investors and hedge funds own 46.76% of the company’s stock.
A number of equities analysts recently issued reports on RDNT shares. Jefferies Group LLC set a $7.00 price target on RadNet and gave the company a “hold” rating in a report on Thursday, March 16th. Zacks Investment Research downgraded RadNet from a “hold” rating to a “sell” rating in a report on Friday, March 17th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $7.75.
RadNet Company Profile
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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