RadNet, Inc. (NASDAQ:RDNT) – Analysts at Jefferies Group dropped their FY2017 EPS estimates for RadNet in a report released on Thursday. Jefferies Group analyst B. Tanquilut now forecasts that the medical research company will post earnings of $0.35 per share for the year, down from their previous estimate of $0.36. Jefferies Group has a “Buy” rating and a $12.00 price target on the stock. Jefferies Group also issued estimates for RadNet’s Q1 2018 earnings at $0.04 EPS, Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.15 EPS and Q4 2018 earnings at $0.18 EPS.
Several other research firms also recently issued reports on RDNT. Zacks Investment Research downgraded shares of RadNet from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. TheStreet downgraded shares of RadNet from a “b-” rating to a “c” rating in a research note on Friday, October 27th. Finally, BidaskClub raised shares of RadNet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th.
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RadNet (NASDAQ:RDNT) opened at $9.70 on Monday. The stock has a market cap of $476.24, a price-to-earnings ratio of 33.33 and a beta of 0.87. RadNet has a 52 week low of $5.25 and a 52 week high of $11.90. The company has a debt-to-equity ratio of 7.88, a quick ratio of 1.29 and a current ratio of 1.29.
RadNet (NASDAQ:RDNT) last issued its earnings results on Thursday, November 9th. The medical research company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The firm had revenue of $227.60 million for the quarter, compared to analyst estimates of $232.84 million. RadNet had a net margin of 1.21% and a return on equity of 23.73%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of RDNT. Airain ltd bought a new stake in RadNet in the second quarter valued at $100,000. Campbell & CO Investment Adviser LLC bought a new stake in RadNet in the second quarter valued at $102,000. Prudential Financial Inc. increased 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. National Planning Corp grew its holdings in shares of RadNet by 9.8% during the second quarter. National Planning Corp now owns 16,796 shares of the medical research company’s stock valued at $132,000 after buying an additional 1,500 shares during the last quarter. Finally, American International Group Inc. grew its holdings in shares of RadNet by 7.0% during the first quarter. American International Group Inc. now owns 22,857 shares of the medical research company’s stock valued at $135,000 after buying an additional 1,500 shares during the last quarter. 48.39% of the stock is owned by hedge funds and other institutional investors.
In other RadNet news, insider Stephen M. Forthuber sold 18,500 shares of RadNet stock in a transaction on Monday, August 21st. The shares were sold at an average price of $8.38, for a total value of $155,030.00. Following the completion of the sale, the insider now directly owns 406,922 shares of the company’s stock, valued at $3,410,006.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mark Stolper sold 10,000 shares of RadNet stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $10.19, for a total transaction of $101,900.00. Following the completion of the sale, the vice president now directly owns 145,319 shares of the company’s stock, valued at $1,480,800.61. The disclosure for this sale can be found here. Insiders have sold 1,226,796 shares of company stock valued at $13,367,025 in the last three months. 9.36% of the stock is owned by insiders.
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.
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