RadNet, Inc. (NASDAQ:RDNT) – Equities researchers at Jefferies Group dropped their FY2017 earnings per share estimates for RadNet in a report released on Thursday. Jefferies Group analyst B. Tanquilut now forecasts that the medical research company will post earnings per share of $0.35 for the year, down from their prior 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.
RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Thursday, November 9th. The medical research company reported $0.12 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $227.60 million during the quarter, compared to analyst estimates of $232.84 million. RadNet had a return on equity of 23.73% and a net margin of 1.21%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS.
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RDNT has been the topic of several other reports. Zacks Investment Research raised RadNet from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. TheStreet raised RadNet from a “c” rating to a “b-” rating in a research report on Thursday, August 24th. Finally, BidaskClub raised RadNet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th.
RadNet (RDNT) opened at $9.80 on Monday. The company has a market capitalization of $476.24, a price-to-earnings ratio of 33.33 and a beta of 0.87. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.29 and a quick ratio of 1.29. RadNet has a 1 year low of $5.25 and a 1 year high of $11.90.
Several hedge funds have recently made changes to their positions in RDNT. JPMorgan Chase & Co. increased its holdings in shares of RadNet by 85.7% in the third quarter. JPMorgan Chase & Co. now owns 503,880 shares of the medical research company’s stock valued at $5,795,000 after purchasing an additional 232,524 shares during the period. AJO LP purchased a new stake in shares of RadNet in the second quarter worth about $1,702,000. EAM Investors LLC purchased a new stake in shares of RadNet in the third quarter worth about $2,364,000. Ativo Capital Management LLC purchased a new stake in shares of RadNet in the second quarter worth about $961,000. Finally, OxFORD Asset Management LLP boosted its stake in shares of RadNet by 58.5% in the second quarter. OxFORD Asset Management LLP now owns 325,198 shares of the medical research company’s stock worth $2,520,000 after buying an additional 120,055 shares during the last quarter. 48.39% of the stock is currently owned by institutional investors and hedge funds.
In other news, major shareholder Sandy Nyholm Kaminsky sold 1,100,000 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $10.95, for a total value of $12,045,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director David L. Swartz sold 25,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $10.98, for a total value of $274,500.00. Following the completion of the transaction, the director now directly owns 274,108 shares in the company, valued at $3,009,705.84. The disclosure for this sale can be found here. Insiders sold 1,226,796 shares of company stock worth $13,367,025 over the last three months. Corporate insiders own 9.36% 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.
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