RadNet, Inc. (NASDAQ:RDNT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate RadNet “Moderate Buy,” with five buy ratings, two strong-buy ratings, one hold and one sell among nine analysts. The average 12-month price target is $90, above the reported share price of $73.71.
• RadNet exceeded quarterly expectations, reporting $0.29 in EPS versus $0.20 expected and $622.72 million in revenue, up 25% year over year and ahead of the $610.87 million consensus estimate.
• Company insiders sold shares in June, while institutional investors own 77.9% of outstanding stock. RadNet’s shares have traded between $50.82 and $85.84 over the past year.

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $90.00.

RDNT has been the topic of a number of recent analyst reports. Truist Financial boosted their target price on RadNet from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of RadNet in a research report on Friday, July 31st. Barclays increased their price objective on shares of RadNet from $65.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, August 28th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of RadNet in a report on Friday, August 7th. Finally, Zacks Research raised shares of RadNet from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th.

Insider Activity at RadNet

In other news, CEO Cornelis Wesdorp sold 4,750 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $58.11, for a total value of $276,022.50. Following the transaction, the chief executive officer owned 69,075 shares of the company's stock, valued at approximately $4,013,948.25. This represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David 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 value of $145,449.11. Following the transaction, the director owned 177,013 shares in the company, valued at approximately $9,539,230.57. This trade represents a 1.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RDNT. Allworth Financial LP grew its stake in shares of RadNet by 346.6% in the third quarter. Allworth Financial LP now owns 393 shares of the medical research company's stock valued at $30,000 after acquiring an additional 305 shares in the last quarter. Danske Bank A S bought a new position in RadNet during the 3rd quarter worth $30,000. Eurizon Capital SGR S.p.A. bought a new position in shares of RadNet in the fourth quarter worth $36,000. Harbour Investments Inc. bought a new position in RadNet in the 4th quarter valued at about $42,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of RadNet in the 4th quarter valued at approximately $67,000. Institutional investors own 77.90% of the company's stock.

RadNet Stock Performance

NASDAQ RDNT opened at $73.71 on Tuesday. The company has a market cap of $5.80 billion, a PE ratio of -272.99 and a beta of 1.41. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.94. RadNet has a 12 month low of $50.82 and a 12 month high of $85.84. The stock has a 50 day moving average of $69.29 and a 200-day moving average of $62.48.

RadNet (NASDAQ:RDNT - Get Free Report) 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. RadNet had a negative net margin of 0.93% and a positive return on equity of 2.61%. The company had revenue of $622.72 million during the quarter, compared to the consensus estimate of $610.87 million. During the same quarter last year, the firm posted $0.31 EPS. The company's quarterly revenue was up 25.0% on a year-over-year basis. On average, equities research analysts anticipate that RadNet will post 0.49 EPS for the current fiscal year.

About RadNet

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.

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