RadNet, Inc. (NASDAQ:RDNT) announced its quarterly earnings results on Tuesday. The medical research company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.07, MarketWatch Earnings reports. RadNet had a net margin of 0.86% and a return on equity of 19.20%. The firm had revenue of $230 million during the quarter, compared to analysts’ expectations of $230.32 million. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue was up 5.2% on a year-over-year basis.

Shares of RadNet (NASDAQ RDNT) opened at 8.125 on Tuesday. RadNet has a 1-year low of $5.25 and a 1-year high of $8.30. The stock has a 50 day moving average of $7.67 and a 200-day moving average of $6.58. The company has a market capitalization of $383.63 million, a price-to-earnings ratio of 52.760 and a beta of 1.01.

Separately, Zacks Investment Research upgraded shares of RadNet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 17th.

In other RadNet news, insider Norman R. Hames sold 8,074 shares of RadNet stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $7.60, for a total transaction of $61,362.40. Following the transaction, the insider now directly owns 413,157 shares of the company’s stock, valued at $3,139,993.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Norman R. Hames sold 20,000 shares of RadNet stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $7.05, for a total transaction of $141,000.00. Following the transaction, the insider now directly owns 586,203 shares in the company, valued at $4,132,731.15. The disclosure for this sale can be found here. Insiders have sold 262,838 shares of company stock worth $1,955,532 over the last three months. Insiders own 9.36% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of RDNT. Dimensional Fund Advisors LP increased its position in shares of RadNet by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,419,656 shares of the medical research company’s stock valued at $8,376,000 after buying an additional 43,960 shares during the last quarter. Vanguard Group Inc. increased its position in shares of RadNet by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,233,623 shares of the medical research company’s stock valued at $7,278,000 after buying an additional 30,054 shares during the last quarter. Robotti Robert increased its position in shares of RadNet by 0.8% in the first quarter. Robotti Robert now owns 748,416 shares of the medical research company’s stock valued at $4,416,000 after buying an additional 6,100 shares during the last quarter. State Street Corp increased its position in shares of RadNet by 9.1% in the fourth quarter. State Street Corp now owns 614,416 shares of the medical research company’s stock valued at $3,962,000 after buying an additional 51,027 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of RadNet by 31.2% in the fourth quarter. Renaissance Technologies LLC now owns 570,101 shares of the medical research company’s stock valued at $3,677,000 after buying an additional 135,701 shares during the last quarter. 46.48% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Earnings History for RadNet (NASDAQ:RDNT)

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