RadNet Inc. (NASDAQ:RDNT) Short Interest Up 124.8% in November

RadNet Inc. (NASDAQ:RDNT) saw a large increase in short interest in the month of November. As of November 29th, there was short interest totalling 1,810,000 shares, an increase of 124.8% from the November 14th total of 805,000 shares. Based on an average daily volume of 464,400 shares, the days-to-cover ratio is presently 3.9 days. Currently, 4.4% of the shares of the company are sold short.

In related news, Director John V. Crues sold 20,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $17.78, for a total value of $355,600.00. Following the transaction, the director now directly owns 434,097 shares of the company’s stock, valued at approximately $7,718,244.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.10% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in RadNet by 6.7% during the second quarter. Vanguard Group Inc. now owns 2,058,540 shares of the medical research company’s stock worth $28,386,000 after buying an additional 128,738 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its holdings in shares of RadNet by 2.9% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 1,243,053 shares of the medical research company’s stock worth $17,850,000 after acquiring an additional 35,444 shares during the last quarter. Beck Mack & Oliver LLC lifted its holdings in shares of RadNet by 54.8% in the 2nd quarter. Beck Mack & Oliver LLC now owns 1,065,134 shares of the medical research company’s stock worth $14,688,000 after acquiring an additional 376,981 shares during the last quarter. State Street Corp lifted its holdings in shares of RadNet by 4.1% in the 3rd quarter. State Street Corp now owns 889,809 shares of the medical research company’s stock worth $12,778,000 after acquiring an additional 35,430 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of RadNet by 28.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 811,595 shares of the medical research company’s stock worth $11,652,000 after acquiring an additional 180,484 shares during the last quarter. Institutional investors own 66.12% of the company’s stock.

Shares of RDNT stock opened at $19.54 on Thursday. RadNet has a 1 year low of $9.97 and a 1 year high of $20.42. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $17.44 and its two-hundred day simple moving average is $14.94. The company has a market cap of $986.33 million, a PE ratio of 29.61, a price-to-earnings-growth ratio of 12.46 and a beta of 0.96.

RadNet (NASDAQ:RDNT) last announced its earnings results on Tuesday, November 12th. The medical research company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.05). The company had revenue of $292.70 million during the quarter, compared to analysts’ expectations of $283.39 million. RadNet had a return on equity of 16.52% and a net margin of 3.02%. RadNet’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 EPS. Equities research analysts expect that RadNet will post 0.21 EPS for the current year.

Several analysts recently issued reports on RDNT shares. Zacks Investment Research cut RadNet from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Sidoti boosted their price target on RadNet from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. ValuEngine downgraded RadNet from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, BidaskClub raised shares of RadNet from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $19.50.

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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Receive News & Ratings for RadNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RadNet and related companies with MarketBeat.com's FREE daily email newsletter.