Key Points
- RadNet director David Swartz sold 2,699 shares on June 18 at an average price of $53.89, for total proceeds of about $145,449. After the sale, he still owned 177,013 shares, a 1.5% reduction in his stake.
- RadNet shares rose 3.8% in Tuesday trading, opening at $55.76. The stock remains below its 200-day moving average of $64.23 and has traded between $50.76 and $85.84 over the past year.
- Latest quarterly results were mixed: RadNet reported a smaller-than-expected loss of $0.28 per share, while revenue of $575.63 million topped estimates and grew 22.1% year over year. Analysts currently view the stock as a Moderate Buy with an average price target of $87.43.
RadNet, Inc. (NASDAQ:RDNT - Get Free Report) Director David Swartz sold 2,699 shares of the company's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $53.89, for a total transaction of $145,449.11. Following the completion of the transaction, the director owned 177,013 shares in the company, valued at approximately $9,539,230.57. This trade represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
RadNet Stock Up 3.8%
RadNet stock opened at $55.76 on Tuesday. The company's 50-day moving average price is $55.81 and its two-hundred day moving average price is $64.23. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.38 billion, a P/E ratio of -309.76 and a beta of 1.41. RadNet, Inc. has a twelve month low of $50.76 and a twelve month high of $85.84.
RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The medical research company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.14). RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The firm had revenue of $575.63 million for the quarter, compared to the consensus estimate of $557.93 million. During the same quarter in the prior year, the firm earned ($0.50) EPS. The company's revenue was up 22.1% on a year-over-year basis. As a group, analysts expect that RadNet, Inc. will post 0.54 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have commented on RDNT. Weiss Ratings lowered RadNet from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a "buy" rating and set a $91.00 price target on shares of RadNet in a research report on Tuesday, March 3rd. Finally, Barclays dropped their price objective on shares of RadNet from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $87.43.
Read Our Latest Analysis on RDNT
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of RadNet by 5.4% in the 1st quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company's stock valued at $340,000 after purchasing an additional 350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of RadNet by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company's stock worth $1,956,000 after buying an additional 1,699 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of RadNet by 563.4% in the first quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company's stock worth $85,000 after acquiring an additional 1,448 shares during the last quarter. United Services Automobile Association bought a new position in shares of RadNet in the first quarter worth about $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of RadNet by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company's stock valued at $21,904,000 after purchasing an additional 8,762 shares during the last quarter. 77.90% of the stock is owned by institutional investors.
About RadNet
(
Get Free Report)
RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.
Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.
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