Jeffrey L. Linden Sells 10,000 Shares of RadNet Inc. (RDNT) Stock

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RadNet Inc. (NASDAQ:RDNT) insider Jeffrey L. Linden sold 10,000 shares of the company’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $12.97, for a total transaction of $129,700.00. Following the completion of the transaction, the insider now owns 912,001 shares of the company’s stock, valued at approximately $11,828,652.97. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

RDNT stock opened at $14.05 on Tuesday. RadNet Inc. has a 12-month low of $7.03 and a 12-month high of $14.85. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $665.71 million, a price-to-earnings ratio of 48.45, a P/E/G ratio of 4.73 and a beta of 0.42.

RadNet (NASDAQ:RDNT) last released its earnings results on Wednesday, May 9th. The medical research company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.19). RadNet had a positive return on equity of 18.77% and a negative net margin of 0.66%. The company had revenue of $231.39 million during the quarter, compared to analysts’ expectations of $234.32 million. During the same quarter in the previous year, the company earned ($0.03) EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. research analysts expect that RadNet Inc. will post 0.37 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. EAM Global Investors LLC bought a new position in shares of RadNet during the 1st quarter valued at $1,445,000. Financial Gravity Wealth Inc. bought a new position in shares of RadNet during the 1st quarter valued at $759,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of RadNet by 11.8% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 66,200 shares of the medical research company’s stock valued at $953,000 after purchasing an additional 7,000 shares in the last quarter. Adalta Capital Management LLC bought a new position in shares of RadNet during the 1st quarter valued at $175,000. Finally, Millennium Management LLC raised its holdings in shares of RadNet by 927.5% during the 1st quarter. Millennium Management LLC now owns 295,806 shares of the medical research company’s stock valued at $4,260,000 after purchasing an additional 267,016 shares in the last quarter. Institutional investors and hedge funds own 57.75% of the company’s stock.

RDNT has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of RadNet from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. BidaskClub cut shares of RadNet from a “strong-buy” rating to a “buy” rating in a report on Friday, May 11th. Raymond James started coverage on shares of RadNet in a report on Wednesday, March 14th. They set a “strong-buy” rating and a $15.00 target price for the company. Finally, Jefferies Financial Group set a $14.00 price target on shares of RadNet and gave the company a “buy” rating in a research report on Thursday, March 8th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $14.75.

About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.

Insider Buying and Selling by Quarter for RadNet (NASDAQ:RDNT)

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