RadNet, Inc. (NASDAQ:RDNT) Given Consensus Recommendation of “Moderate Buy” by Analysts

RadNet, Inc. (NASDAQ:RDNT) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $90.00.

Several brokerages recently commented on RDNT. Barclays upped their price target on shares of RadNet from $65.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Truist Financial raised their price objective on RadNet from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Zacks Research raised shares of RadNet from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Jefferies Financial Group restated a “buy” rating on shares of RadNet in a report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RadNet in a research report on Friday, August 7th.

RadNet Trading Up 1.6%

Shares of RadNet stock opened at $75.49 on Tuesday. RadNet has a fifty-two week low of $50.82 and a fifty-two week high of $85.84. The firm has a market cap of $5.94 billion, a PE ratio of -279.58 and a beta of 1.41. The business’s fifty day moving average is $69.84 and its two-hundred day moving average is $62.61. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.94.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Monday, August 10th. The medical research company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $622.72 million during the quarter, compared to the consensus estimate of $610.87 million. RadNet had a positive return on equity of 2.61% and a negative net margin of 0.93%.The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Analysts anticipate that RadNet will post 0.49 earnings per share for the current year.

Insider Activity at RadNet

In other news, Director David L. Swartz sold 2,699 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the completion of the transaction, the director directly owned 177,013 shares in the company, valued at approximately $9,539,230.57. This represents a 1.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Cornelis Wesdorp sold 4,750 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $58.11, for a total transaction of $276,022.50. Following the transaction, the chief executive officer directly owned 69,075 shares in the company, valued at $4,013,948.25. The trade was a 6.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On RadNet

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC increased its position in RadNet by 5.4% in the first quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock worth $340,000 after buying an additional 350 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of RadNet by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company’s stock worth $1,956,000 after acquiring an additional 1,699 shares during the period. Jones Financial Companies Lllp raised its stake in shares of RadNet by 563.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock worth $85,000 after buying an additional 1,448 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of RadNet in the first quarter valued at $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of RadNet by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock worth $21,904,000 after purchasing an additional 8,762 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Company Profile

RadNet, Inc is an outpatient diagnostic imaging company that provides medical imaging services through a network of imaging centers and affiliated facilities. Its services support the diagnosis and monitoring of a wide range of medical conditions and are generally provided on an outpatient basis, outside of traditional hospital settings.

The company’s imaging offerings include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET/CT), mammography, ultrasound, X-ray and other diagnostic procedures.