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

Key Points

• RadNet has a consensus analyst rating of “Moderate Buy” from 10 brokerages, with an average 12-month price target of about $87.43.
• The company’s latest quarterly results showed revenue of $575.63 million, topping estimates, but EPS of -$0.28 missed expectations; revenue still rose 22.1% year over year.
• Insider activity has included recent stock sales by CEO Cornelis Wesdorp and Director David L. Swartz, while institutional investors hold about 77.9% of RadNet shares.

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 stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $87.4286.

A number of equities analysts have issued reports on RDNT shares. Weiss Ratings downgraded shares of RadNet from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, May 12th. Barclays dropped their price target on RadNet from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Finally, Zacks Research cut RadNet from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th.

Insiders Place Their Bets

In related news, CEO Cornelis Wesdorp sold 4,750 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $58.11, for a total transaction of $276,022.50. Following the completion of the transaction, the chief executive officer owned 69,075 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David L. Swartz sold 2,699 shares of the firm's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $53.89, for a total transaction of $145,449.11. Following the sale, the director owned 177,013 shares of the company's stock, valued at $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. Insiders own 5.60% of the company's stock.

Institutional Trading of RadNet

Several hedge funds have recently added to or reduced their stakes in RDNT. Geneos Wealth Management Inc. bought a new position in shares of RadNet during the 4th quarter valued at approximately $25,000. Allworth Financial LP raised its holdings in shares of RadNet by 346.6% in 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 period. Danske Bank A S bought a new stake in shares of RadNet in the 3rd quarter worth approximately $30,000. Eurizon Capital SGR S.p.A. purchased a new position in RadNet in the fourth quarter valued at approximately $36,000. Finally, Harbour Investments Inc. purchased a new position in RadNet in the fourth quarter valued at approximately $42,000. Institutional investors own 77.90% of the company's stock.

RadNet Price Performance

RDNT stock opened at $62.19 on Monday. RadNet has a twelve month low of $50.76 and a twelve month high of $85.84. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.79. The stock's 50 day moving average is $57.99 and its 200-day moving average is $62.69. The firm has a market capitalization of $4.89 billion, a PE ratio of -345.48 and a beta of 1.37.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.14). The company had revenue of $575.63 million for the quarter, compared to the consensus estimate of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The company's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.50) EPS. Sell-side analysts expect that RadNet will post 0.54 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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