RadNet, Inc. (RDNT) Trading Up 7.2%

RadNet, Inc. (NASDAQ:RDNT)’s share price was up 7.2% during mid-day trading on Wednesday . The company traded as high as $11.20 and last traded at $11.10. Approximately 1,039,587 shares changed hands during mid-day trading, an increase of 326% from the average daily volume of 244,002 shares. The stock had previously closed at $10.35.

A number of equities analysts have recently issued reports on RDNT shares. TheStreet upgraded shares of RadNet from a “c” rating to a “b-” rating in a research note on Thursday, August 24th. Jefferies Group LLC upgraded shares of RadNet from a “hold” rating to a “buy” rating and increased their price objective for the company from $7.00 to $12.00 in a research note on Tuesday, August 22nd. Zacks Investment Research upgraded shares of RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Finally, BidaskClub upgraded shares of RadNet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.63.

The firm has a market capitalization of $524.65 million, a P/E ratio of 58.42 and a beta of 0.92. The stock’s 50-day moving average price is $8.71 and its 200 day moving average price is $7.15.

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 analysts forecast that RadNet, Inc. will post $0.29 earnings per share for the current year.

In related news, insider Jeffrey L. Linden sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $10.72, for a total value of $107,200.00. Following the completion of the transaction, the insider now owns 950,193 shares of the company’s stock, valued at $10,186,068.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David L. Swartz sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $10.98, for a total value of $274,500.00. Following the completion of the transaction, the director now directly owns 274,108 shares of the company’s stock, valued at approximately $3,009,705.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,682 shares of company stock valued at $931,173. 9.36% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of RDNT. Airain ltd acquired a new position in RadNet in the second quarter valued at about $100,000. Campbell & CO Investment Adviser LLC acquired a new position in RadNet in the second quarter valued at about $102,000. Prudential Financial Inc. raised its stake in RadNet by 29.2% in the first quarter. Prudential Financial Inc. now owns 17,710 shares of the medical research company’s stock valued at $104,000 after purchasing an additional 4,000 shares in the last quarter. Royce & Associates LP acquired a new position in RadNet in the first quarter valued at about $118,000. Finally, Spark Investment Management LLC acquired a new position in RadNet in the first quarter valued at about $125,000. 48.81% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “RadNet, Inc. (RDNT) Trading Up 7.2%” was first published by BBNS and is owned by of BBNS. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://baseballnewssource.com/markets/radnet-inc-rdnt-trading-up-7-2/1600083.html.

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.

Receive News & Ratings for RadNet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Bryce Harper Hoping to Return Monday from Knee Injury
Bryce Harper Hoping to Return Monday from Knee Injury
American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?


Leave a Reply

 
© 2006-2017 BBNS.