RadNet, Inc. (RDNT) Director Sells $274,500.00 in Stock
RadNet, Inc. (NASDAQ:RDNT) Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $10.98, for a total value of $274,500.00. Following the sale, the director now directly owns 274,108 shares of the company’s stock, valued at $3,009,705.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of RadNet, Inc. (RDNT) remained flat at $11.10 during mid-day trading on Thursday. The stock had a trading volume of 536,544 shares. The stock’s 50 day moving average price is $8.61 and its 200-day moving average price is $7.12. The stock has a market cap of $524.65 million, a price-to-earnings ratio of 58.42 and a beta of 0.92. RadNet, Inc. has a 52-week low of $5.25 and a 52-week high of $11.20.
RadNet (NASDAQ:RDNT) last posted its earnings results on Tuesday, August 8th. The medical research company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. The firm 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%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. Equities research analysts predict that RadNet, Inc. will post $0.29 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of RDNT. AJO LP bought a new position in shares of RadNet during the second quarter worth about $1,702,000. JPMorgan Chase & Co. raised its position in shares of RadNet by 94.3% during the second quarter. JPMorgan Chase & Co. now owns 271,356 shares of the medical research company’s stock worth $2,104,000 after acquiring an additional 131,724 shares during the last quarter. Ativo Capital Management LLC bought a new position in shares of RadNet during the second quarter worth about $961,000. OxFORD Asset Management LLP raised its position in shares of RadNet by 58.5% during the second quarter. OxFORD Asset Management LLP now owns 325,198 shares of the medical research company’s stock worth $2,520,000 after acquiring an additional 120,055 shares during the last quarter. Finally, Parallax Volatility Advisers L.P. raised its position in shares of RadNet by 122.0% during the second quarter. Parallax Volatility Advisers L.P. now owns 21,122 shares of the medical research company’s stock worth $164,000 after acquiring an additional 117,148 shares during the last quarter. Institutional investors own 48.81% of the company’s stock.
Several brokerages have weighed in on RDNT. TheStreet raised RadNet from a “c” rating to a “b-” rating in a report on Thursday, August 24th. BidaskClub raised RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Jefferies Group LLC raised RadNet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $7.00 to $12.00 in a report on Tuesday, August 22nd. Finally, Zacks Investment Research raised RadNet from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. RadNet presently has an average rating of “Buy” and a consensus target price of $9.63.
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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