RadNet, Inc. (NASDAQ:RDNT) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus: Ten brokerages rate RadNet a "Moderate Buy" (1 sell, 1 hold, 6 buy, 2 strong buy) with an average 12‑month price target of $88.14.
• Recent results: RadNet reported quarterly EPS of $0.23 (vs. $0.19 expected) and revenue of $547.7M (vs. $515.7M expected), a 14.8% year‑over‑year revenue increase.
• Ownership and insider activity: Insiders own 5.60% (one insider sold 15,000 shares at an average of $62.15) while institutional investors hold about 77.90% of the stock.

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the ten brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $88.1429.

A number of equities research analysts recently issued reports on the company. UBS Group set a $92.00 target price on RadNet in a research report on Friday, January 9th. Barclays decreased their price target on shares of RadNet from $86.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. KeyCorp upgraded shares of RadNet to a "strong-buy" rating in a report on Friday, January 9th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $91.00 price objective on shares of RadNet in a research report on Tuesday, March 3rd.

Insider Transactions at RadNet

In other RadNet news, insider Alma Gregory Sorensen sold 15,000 shares of the business's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total transaction of $932,250.00. Following the sale, the insider directly owned 1,208,923 shares of the company's stock, valued at $75,134,564.45. The trade was a 1.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.60% of the company's stock.

Institutional Trading of RadNet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. bought a new stake in RadNet during the fourth quarter worth about $25,000. Allworth Financial LP increased its position in shares of RadNet by 346.6% during the 3rd quarter. Allworth Financial LP now owns 393 shares of the medical research company's stock worth $30,000 after purchasing an additional 305 shares during the last quarter. Danske Bank A S acquired a new position in shares of RadNet during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC raised its stake in shares of RadNet by 1,086.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company's stock worth $33,000 after purchasing an additional 402 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company's stock worth $34,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Price Performance

RDNT stock opened at $59.05 on Wednesday. The stock has a 50-day moving average price of $60.67 and a two-hundred day moving average price of $70.08. The stock has a market cap of $4.62 billion, a PE ratio of -236.18 and a beta of 1.43. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.79. RadNet has a 1 year low of $50.76 and a 1 year high of $85.84.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The medical research company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The company had revenue of $547.71 million for the quarter, compared to analyst estimates of $515.67 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.91%.The company's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. Equities analysts forecast that RadNet will post 0.62 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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