Investors Buy High Volume of Call Options on RadNet (NASDAQ:RDNT)

RadNet, Inc. (NASDAQ:RDNT) was the target of unusually large options trading activity on Friday. Traders purchased 9,582 call options on the stock. This represents an increase of 1,374% compared to the typical daily volume of 650 call options.

Analyst Ratings Changes

A number of research firms have recently commented on RDNT. Jefferies Financial Group reduced their price target on shares of RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Barclays reduced their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $88.00 price target (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, RadNet presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

Institutional Trading of RadNet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd raised its stake in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares in the last quarter. USA Financial Formulas purchased a new position in RadNet in the 4th quarter worth $30,000. Fifth Third Bancorp raised its position in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after purchasing an additional 305 shares during the period. Highline Wealth Partners LLC bought a new stake in RadNet in the third quarter worth $68,000. Finally, Peterson Financial Group Inc. purchased a new stake in RadNet during the third quarter valued at about $90,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Stock Performance

NASDAQ RDNT opened at $55.47 on Friday. RadNet has a 52-week low of $37.04 and a 52-week high of $93.65. The company has a fifty day moving average of $65.43 and a 200-day moving average of $69.00. The company has a market capitalization of $4.11 billion, a P/E ratio of -792.32 and a beta of 1.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16.

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

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.