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

Key Points

• Consensus "Moderate Buy": Ten analysts give RadNet a consensus "Moderate Buy" (1 sell, 1 hold, 6 buy, 2 strong buy) with an average 12‑month price target of $90.43.
• Insider sale: Insider Alma Gregory Sorensen sold 15,000 shares at $62.15 (≈$932,250), a 1.23% reduction in her stake; insiders collectively own 5.60% of the company.
• Institutional buying and solid quarter: Large institutional inflows (e.g., Invesco +333,911 shares; RTW +1,122,956; Millennium +401,762) leave institutions with 77.9% ownership, and RadNet beat quarterly estimates with $547.7M revenue and $0.23 EPS while its 12‑month stock range is $46.76–$85.84.

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $90.4286.

A number of research analysts recently issued reports on RDNT shares. Truist Financial set a $90.00 target price on shares of RadNet in a research report on Wednesday, December 17th. The Goldman Sachs Group upgraded shares of RadNet to a "buy" rating in a research report on Tuesday, December 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of RadNet in a research report on Monday, December 29th. KeyCorp upgraded shares of RadNet to a "strong-buy" rating in a report on Friday, January 9th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of RadNet in a report on Thursday, December 18th.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC raised its holdings in RadNet by 50.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,059 shares of the medical research company's stock worth $432,000 after buying an additional 2,035 shares during the last quarter. Invesco Ltd. raised its holdings in RadNet by 26.4% during the fourth quarter. Invesco Ltd. now owns 1,596,780 shares of the medical research company's stock worth $113,930,000 after buying an additional 333,911 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in RadNet by 8.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 768,464 shares of the medical research company's stock worth $54,830,000 after buying an additional 62,805 shares during the last quarter. RTW Investments LP raised its holdings in RadNet by 39.9% during the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company's stock worth $281,012,000 after buying an additional 1,122,956 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in RadNet by 1,931.5% during the fourth quarter. Millennium Management LLC now owns 380,961 shares of the medical research company's stock worth $27,182,000 after buying an additional 401,762 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Stock Down 1.1%

RadNet stock opened at $55.43 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. RadNet has a 12-month low of $46.76 and a 12-month high of $85.84. The firm's fifty day moving average is $64.10 and its 200 day moving average is $72.02. The company has a market capitalization of $4.30 billion, a PE ratio of -221.72 and a beta of 1.53.

RadNet (NASDAQ:RDNT - Get Free Report) last released its earnings results on Monday, March 2nd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. RadNet had a negative net margin of 0.91% and a positive return on equity of 2.52%. The company had revenue of $547.71 million for the quarter, compared to the consensus estimate of $515.67 million. During the same quarter in the previous year, the company earned $0.22 EPS. RadNet's quarterly revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that RadNet will post 0.56 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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