Michael L. Md Sherman Sells 8,035 Shares of RadNet, Inc. (RDNT) Stock
RadNet, Inc. (NASDAQ:RDNT) Director Michael L. Md Sherman sold 8,035 shares of RadNet stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $11.02, for a total transaction of $88,545.70. Following the completion of the transaction, the director now owns 301,957 shares in the company, valued at approximately $3,327,566.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
RadNet, Inc. (NASDAQ:RDNT) opened at 11.20 on Thursday. The firm has a market cap of $529.38 million, a price-to-earnings ratio of 58.95 and a beta of 0.92. The company has a 50-day moving average of $9.01 and a 200-day moving average of $7.27. RadNet, Inc. has a 1-year low of $5.25 and a 1-year high of $11.50.
RadNet (NASDAQ:RDNT) last posted its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.07. The business had revenue of $230.00 million during the quarter, compared to the consensus estimate of $230.32 million. RadNet had a net margin of 1.04% and a return on equity of 19.98%. RadNet’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. Analysts predict that RadNet, Inc. will post $0.29 earnings per share for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of RadNet by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,531,850 shares of the medical research company’s stock worth $11,872,000 after buying an additional 112,194 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of RadNet by 4.2% during the second quarter. Vanguard Group Inc. now owns 1,284,852 shares of the medical research company’s stock worth $9,957,000 after buying an additional 51,229 shares during the last quarter. Robotti Robert increased its stake in 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 purchasing an additional 6,100 shares in the last quarter. State Street Corp increased its stake in RadNet by 9.2% in the second quarter. State Street Corp now owns 585,218 shares of the medical research company’s stock valued at $4,538,000 after purchasing an additional 49,186 shares in the last quarter. Finally, Northern Trust Corp increased its stake in RadNet by 5.2% in the second quarter. Northern Trust Corp now owns 436,407 shares of the medical research company’s stock valued at $3,382,000 after purchasing an additional 21,746 shares in the last quarter. 48.81% of the stock is owned by institutional investors and hedge funds.
Several research firms have issued reports on RDNT. BidaskClub upgraded shares of RadNet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. TheStreet raised shares of RadNet from a “c” rating to a “b-” rating in a research note on Thursday, August 24th. Zacks Investment Research raised shares of RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Finally, Jefferies Group LLC raised shares of RadNet from a “hold” rating to a “buy” rating and raised their price objective for the stock from $7.00 to $12.00 in a research note on Tuesday, August 22nd. 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’s stock. RadNet has an average rating of “Buy” and an average price target 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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