Jefferies Group LLC upgraded shares of RadNet, Inc. (NASDAQ:RDNT) from a hold rating to a buy rating in a report issued on Tuesday, MarketBeat Ratings reports. They currently have $12.00 target price on the medical research company’s stock, up from their previous target price of $7.00. Jefferies Group also issued estimates for RadNet’s Q3 2017 earnings at $0.13 EPS, Q4 2017 earnings at $0.13 EPS, FY2017 earnings at $0.36 EPS and FY2018 earnings at $0.50 EPS.
Separately, Zacks Investment Research upgraded shares of RadNet from a sell rating to a hold rating in a research report on Wednesday, May 17th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. RadNet presently has a consensus rating of Buy and a consensus target price of $9.42.
RadNet (RDNT) opened at 9.80 on Tuesday. The firm has a market cap of $463.21 million, a price-to-earnings ratio of 51.58 and a beta of 1.01. RadNet has a 52-week low of $5.25 and a 52-week high of $10.05. The firm has a 50-day moving average of $8.00 and a 200 day moving average of $6.86.
RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.07. The firm had revenue of $230 million for 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%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 EPS. On average, equities research analysts forecast that RadNet will post $0.29 earnings per share for the current year.
In related news, insider Stephen M. Forthuber sold 18,500 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $8.38, for a total transaction of $155,030.00. Following the transaction, the insider now owns 406,922 shares in the company, valued at approximately $3,410,006.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey L. Linden sold 10,104 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $9.91, for a total transaction of $100,130.64. Following the transaction, the insider now owns 960,193 shares in the company, valued at approximately $9,515,512.63. The disclosure for this sale can be found here. Insiders have sold a total of 102,682 shares of company stock worth $822,173 in the last quarter. 9.36% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDNT. Airain ltd bought a new position in RadNet during the second quarter worth about $100,000. Campbell & CO Investment Adviser LLC bought a new position in RadNet during the second quarter worth about $102,000. National Planning Corp increased its position in RadNet by 9.8% in the second quarter. National Planning Corp now owns 16,796 shares of the medical research company’s stock worth $132,000 after buying an additional 1,500 shares during the last quarter. Prudential Financial Inc. increased its position in RadNet by 29.2% in the first quarter. Prudential Financial Inc. now owns 17,710 shares of the medical research company’s stock worth $104,000 after buying an additional 4,000 shares during the last quarter. Finally, Royce & Associates LP bought a new position in RadNet during the first quarter worth about $118,000. Institutional investors own 46.00% of the company’s stock.
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 MarketBeat.com's FREE daily email newsletter.
