RadNet, Inc. (NASDAQ:RDNT) Short Interest Update

RadNet, Inc. (NASDAQ:RDNT) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 3,050,000 shares, an increase of 20.6% from the June 15th total of 2,530,000 shares. Based on an average daily volume of 530,900 shares, the short-interest ratio is presently 5.7 days.

RadNet Trading Up 3.2 %

NASDAQ:RDNT traded up $1.97 during trading hours on Monday, hitting $63.38. The company had a trading volume of 231,698 shares, compared to its average volume of 536,934. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.86 and a quick ratio of 1.86. The stock has a 50-day moving average price of $58.20 and a 200 day moving average price of $47.98. The company has a market capitalization of $4.68 billion, a PE ratio of 209.70 and a beta of 1.75. RadNet has a 52 week low of $25.11 and a 52 week high of $64.06.

RadNet (NASDAQ:RDNT) last posted its earnings results on Wednesday, May 8th. The medical research company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.16. RadNet had a net margin of 1.28% and a return on equity of 5.05%. The firm had revenue of $431.70 million during the quarter, compared to analysts’ expectations of $421.72 million. During the same period last year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that RadNet will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

RDNT has been the topic of several research analyst reports. StockNews.com cut shares of RadNet from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Jefferies Financial Group increased their target price on RadNet from $61.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Raymond James lifted their target price on shares of RadNet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Truist Financial raised their price target on shares of RadNet from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Monday. Finally, Barclays increased their target price on shares of RadNet from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $64.00.

Insider Activity

In other RadNet news, Director Christine Nayoma Gordon sold 3,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $61.30, for a total value of $183,900.00. Following the sale, the director now owns 12,379 shares in the company, valued at approximately $758,832.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Alma Gregory Sorensen sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $61.24, for a total transaction of $306,200.00. Following the completion of the sale, the executive vice president now directly owns 1,249,205 shares of the company’s stock, valued at $76,501,314.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christine Nayoma Gordon sold 3,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $61.30, for a total transaction of $183,900.00. Following the completion of the transaction, the director now owns 12,379 shares in the company, valued at $758,832.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,730 shares of company stock worth $6,121,516. Insiders own 5.12% of the company’s stock.

Hedge Funds Weigh In On RadNet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in RadNet by 74.7% during the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after acquiring an additional 370 shares during the last quarter. Assetmark Inc. raised its position in shares of RadNet by 35.2% during the fourth quarter. Assetmark Inc. now owns 3,183 shares of the medical research company’s stock valued at $111,000 after buying an additional 829 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of RadNet by 8.7% in the first quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company’s stock worth $177,000 after purchasing an additional 291 shares during the last quarter. MQS Management LLC bought a new stake in shares of RadNet in the 1st quarter worth about $207,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of RadNet during the 1st quarter valued at about $218,000. Institutional investors own 77.90% of the company’s stock.

RadNet Company Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.