RadNet, Inc. (NASDAQ:RDNT) released its quarterly earnings results on Tuesday, August 8th. The medical research company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07, MarketWatch Earnings reports. RadNet had a return on equity of 19.98% and a net margin of 1.04%. The company had revenue of $230 million for the quarter, compared to analysts’ expectations of $230.32 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year.
RadNet (NASDAQ RDNT) opened at 8.35 on Friday. The firm’s 50-day moving average price is $7.82 and its 200-day moving average price is $6.76. The firm has a market capitalization of $394.67 million, a PE ratio of 43.95 and a beta of 1.01. RadNet has a 1-year low of $5.25 and a 1-year high of $8.70.
Separately, Zacks Investment Research upgraded RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th.
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In related news, VP Mark Stolper sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $7.33, for a total transaction of $109,950.00. Following the completion of the sale, the vice president now directly owns 155,319 shares of the company’s stock, valued at approximately $1,138,488.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey L. Linden sold 10,104 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $8.46, for a total transaction of $85,479.84. Following the sale, the insider now directly owns 970,297 shares of the company’s stock, valued at $8,208,712.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,870 shares of company stock valued at $1,124,462. 9.36% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Airain ltd purchased a new position in shares of RadNet during the second quarter worth approximately $100,000. GSA Capital Partners LLP purchased a new position in shares of RadNet during the fourth quarter worth approximately $101,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of RadNet during the second quarter worth approximately $102,000. Prudential Financial Inc. raised its position in shares of 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 in the last quarter. Finally, Royce & Associates LP purchased a new position in shares of RadNet during the first quarter worth approximately $118,000. 46.00% of the stock is owned by hedge funds and other institutional investors.
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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