RadNet (NASDAQ:RDNT) Upgraded at StockNews.com

StockNews.com upgraded shares of RadNet (NASDAQ:RDNT) to a sell rating in a report issued on Wednesday morning.

Other analysts have also issued research reports about the company. Jefferies Financial Group dropped their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Barclays dropped their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, Truist Financial reiterated a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $76.75.

RadNet Stock Performance

Shares of NASDAQ RDNT opened at $49.25 on Wednesday. The stock has a 50 day moving average price of $58.78 and a 200 day moving average price of $67.46. RadNet has a 52 week low of $45.82 and a 52 week high of $93.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $3.65 billion, a PE ratio of -703.47 and a beta of 1.85.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Analysts predict that RadNet will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Cornelis Wesdorp sold 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $50.52, for a total transaction of $50,520.00. Following the sale, the chief executive officer now owns 55,995 shares of the company’s stock, valued at $2,828,867.40. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.22, for a total value of $251,100.00. Following the completion of the sale, the chief operating officer now directly owns 251,959 shares in the company, valued at approximately $12,653,380.98. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $1,926,730 over the last 90 days. 5.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RadNet

Several hedge funds have recently modified their holdings of RDNT. HighTower Advisors LLC increased its position in RadNet by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock valued at $545,000 after buying an additional 136 shares in the last quarter. Highland Capital Management LLC increased its position in RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock valued at $231,000 after buying an additional 202 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in RadNet by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company’s stock valued at $483,000 after purchasing an additional 219 shares during the last quarter. Summit Financial LLC boosted its stake in RadNet by 2.4% during the 4th quarter. Summit Financial LLC now owns 11,111 shares of the medical research company’s stock valued at $776,000 after purchasing an additional 262 shares during the last quarter. Finally, Virtue Capital Management LLC boosted its stake in RadNet by 1.4% during the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after purchasing an additional 264 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

About RadNet

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. 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.