RadNet Is Up 20% Since Shareholder Meeting

RadNet Inc. (RDNT), an operator of medical diagnostic imaging centers, reported first quarter results in May that were nothing to write home about – the company recorded a loss of $5.5 million, or $.15 per share, due to some one-time costs, however it did reaffirm full-year revenue guidance of between $470 million and $500 million. And there has been some notable trading action as of late, though it still remains illiquid by most standards.

Three times over the past four trading sessions, including today, the stock has seen a gain in excess of 5%. There has not been any news with the exception of RadNet’s annual shareholder meeting that took place on June 12. Curiously, the day before the meeting the stock closed at $6.09 and the shares are up about 20% since that time. In mid-day trading, RadNet is extending its recent run, up by $.35, or 5.5%, to $7.20 on moderate volume.