RadNet, Inc. (RDNT) Insider Sells $155,030.00 in Stock
RadNet, Inc. (NASDAQ:RDNT) insider Stephen M. Forthuber sold 18,500 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $8.38, for a total transaction of $155,030.00. Following the sale, the insider now owns 406,922 shares of the company’s stock, valued at approximately $3,410,006.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of RadNet, Inc. (RDNT) traded up 2.99% during midday trading on Monday, hitting $8.60. 515,051 shares of the company were exchanged. RadNet, Inc. has a one year low of $5.25 and a one year high of $8.80. The company has a 50-day moving average of $7.82 and a 200 day moving average of $6.76. The company has a market capitalization of $406.49 million, a P/E ratio of 45.26 and a beta of 1.01.
RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. The business had revenue of $230 million during the quarter, compared to the consensus estimate of $230.32 million. RadNet had a return on equity of 19.98% and a net margin of 1.04%. RadNet’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, equities research analysts expect that RadNet, Inc. will post $0.29 earnings per share for the current fiscal year.
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Separately, Zacks Investment Research upgraded shares of RadNet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 17th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. AJO LP bought a new position in RadNet during the second quarter worth approximately $1,702,000. JPMorgan Chase & Co. increased its position in RadNet by 94.3% in the second quarter. JPMorgan Chase & Co. now owns 271,356 shares of the medical research company’s stock worth $2,104,000 after buying an additional 131,724 shares during the period. Ativo Capital Management LLC bought a new position in RadNet during the second quarter worth approximately $961,000. OxFORD Asset Management LLP increased its position in RadNet by 58.5% in the second quarter. OxFORD Asset Management LLP now owns 325,198 shares of the medical research company’s stock worth $2,520,000 after buying an additional 120,055 shares during the period. Finally, Parallax Volatility Advisers L.P. increased its position in RadNet by 122.0% in the second quarter. Parallax Volatility Advisers L.P. now owns 21,122 shares of the medical research company’s stock worth $164,000 after buying an additional 117,148 shares during the period. 46.00% of the stock is owned by institutional investors and hedge funds.
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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