RadNet, Inc. (NASDAQ:RDNT) Receives Average Rating of “Buy” from Brokerages

Shares of RadNet, Inc. (NASDAQ:RDNT) have been given a consensus recommendation of “Buy” by the five research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $73.25.

RDNT has been the subject of a number of recent analyst reports. Raymond James raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Barclays dropped their target price on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. StockNews.com raised shares of RadNet to a “sell” rating in a research note on Wednesday, March 19th. Truist Financial reissued a “buy” rating and issued a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group lowered their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, January 15th.

Insider Buying and Selling at RadNet

In other news, Director David L. Swartz sold 25,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the completion of the sale, the director now owns 174,067 shares in the company, valued at approximately $8,849,566.28. This represents a 12.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Cornelis Wesdorp sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the completion of the sale, the chief executive officer now directly owns 58,995 shares of the company’s stock, valued at $3,101,957.10. The trade was a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in shares of RadNet by 3.5% during the third quarter. The Manufacturers Life Insurance Company now owns 38,796 shares of the medical research company’s stock worth $2,692,000 after acquiring an additional 1,323 shares during the last quarter. D.A. Davidson & CO. acquired a new position in RadNet during the 3rd quarter valued at approximately $208,000. FMR LLC raised its holdings in shares of RadNet by 0.3% in the third quarter. FMR LLC now owns 701,396 shares of the medical research company’s stock worth $48,670,000 after buying an additional 2,242 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of RadNet by 128.2% during the third quarter. BNP Paribas Financial Markets now owns 15,447 shares of the medical research company’s stock worth $1,072,000 after buying an additional 8,677 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of RadNet by 33.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,244 shares of the medical research company’s stock valued at $1,197,000 after buying an additional 4,332 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Trading Up 1.2 %

RDNT stock opened at $49.29 on Tuesday. RadNet has a twelve month low of $45.00 and a twelve month high of $93.65. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -704.04 and a beta of 1.59. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $56.04 and its two-hundred day simple moving average is $66.40.

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

RadNet Company Profile

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.