RadNet Inc. (RDNT) Sees Large Volume Increase

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RadNet Inc. (NASDAQ:RDNT) saw strong trading volume on Wednesday . 145,722 shares traded hands during mid-day trading, an increase of 23% from the previous session’s volume of 118,704 shares.The stock last traded at $7.02 and had previously closed at $7.14.
RDNT has been the subject of a number of research reports. B. Riley reaffirmed a “buy” rating and set a $9.00 target price on shares of RadNet in a report on Saturday. Sterne Agee CRT initiated coverage on shares of RadNet in a report on Thursday, June 2nd. They set a “neutral” rating for the company. Zacks Investment Research lowered shares of RadNet from a “hold” rating to a “sell” rating in a report on Saturday, August 6th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of RadNet in a report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. RadNet currently has a consensus rating of “Buy” and an average target price of $8.25.
The stock has a market capitalization of $326.42 million and a PE ratio of 30.57. The stock’s 50 day moving average price is $6.29 and its 200 day moving average price is $5.56.

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RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The company had revenue of $224.60 million for the quarter, compared to analyst estimates of $220.09 million. RadNet’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. On average, equities research analysts expect that RadNet Inc. will post $0.26 EPS for the current fiscal year.
In related news, insider Jeffrey L. Linden sold 30,000 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $6.41, for a total transaction of $192,300.00. Following the completion of the sale, the insider now directly owns 963,709 shares of the company’s stock, valued at $6,177,374.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mark Stolper sold 35,414 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $6.25, for a total value of $221,337.50. Following the sale, the vice president now directly owns 170,319 shares of the company’s stock, valued at $1,064,493.75. The disclosure for this sale can be found here. Corporate insiders own 9.18% of the company’s stock.
RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. The Company operates directly or indirectly through joint ventures with hospitals, approximately 300 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.

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