RadNet Inc. (NASDAQ:RDNT) Short Interest Update

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RadNet Inc. (NASDAQ:RDNT) saw a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 767,600 shares, a decline of 24.1% from the July 15th total of 1,011,700 shares. Based on an average daily trading volume, of 246,700 shares, the short-interest ratio is currently 3.1 days. Currently, 1.9% of the company’s shares are sold short.

Shares of NASDAQ RDNT traded down $0.53 during trading hours on Tuesday, hitting $14.12. 142,510 shares of the stock were exchanged, compared to its average volume of 255,673. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 5.09. The company has a market cap of $707.79 million, a PE ratio of 21.39, a PEG ratio of 5.85 and a beta of 1.02. The firm has a fifty day moving average price of $14.70 and a 200-day moving average price of $13.58. RadNet has a 12 month low of $9.97 and a 12 month high of $16.54.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Thursday, August 8th. The medical research company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $289.10 million for the quarter, compared to the consensus estimate of $272.36 million. RadNet had a return on equity of 18.91% and a net margin of 3.33%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 EPS. As a group, equities analysts anticipate that RadNet will post 0.33 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. BidaskClub raised shares of RadNet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 14th. TheStreet cut shares of RadNet from a “b-” rating to a “c” rating in a research report on Tuesday, June 4th. Finally, Zacks Investment Research lowered shares of RadNet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $17.75.

In other news, insider Michael N. Murdock sold 21,667 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $13.23, for a total value of $286,654.41. Following the completion of the sale, the insider now owns 100,575 shares of the company’s stock, valued at approximately $1,330,607.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John V. Crues sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $15.07, for a total transaction of $753,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,370 shares of company stock valued at $2,071,305. 6.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC bought a new position in shares of RadNet during the 1st quarter worth approximately $34,000. Aperio Group LLC bought a new position in shares of RadNet during the 2nd quarter worth approximately $36,000. Oppenheimer Asset Management Inc. acquired a new position in RadNet during the 2nd quarter valued at approximately $40,000. US Bancorp DE increased its stake in RadNet by 34.0% during the 2nd quarter. US Bancorp DE now owns 3,325 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 844 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in RadNet by 485.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,399 shares of the medical research company’s stock valued at $104,000 after purchasing an additional 6,965 shares in the last quarter. Hedge funds and other institutional investors own 65.54% of the company’s stock.

RadNet Company Profile

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.

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