RadNet, Inc. (NASDAQ:RDNT) Receives Average Recommendation of "Buy" from Brokerages

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) have been assigned an average recommendation of "Buy" from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $76.80.

Several research analysts recently commented on the stock. Wall Street Zen raised shares of RadNet from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Barclays raised their price target on shares of RadNet from $60.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Truist Financial boosted their price objective on shares of RadNet from $74.00 to $81.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Raymond James Financial reiterated a "strong-buy" rating and set a $75.00 target price (up from $66.00) on shares of RadNet in a report on Wednesday, August 13th. Finally, Zacks Research raised RadNet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday.

RadNet Stock Down 0.6%

Shares of NASDAQ:RDNT opened at $76.93 on Friday. The stock has a market capitalization of $5.92 billion, a P/E ratio of -384.63 and a beta of 1.59. The stock's 50-day moving average price is $72.84 and its 200-day moving average price is $61.31. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.91. RadNet has a 12-month low of $45.00 and a 12-month high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.14. The company had revenue of $498.23 million during the quarter, compared to analysts' expectations of $488.06 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.RadNet's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. On average, equities analysts anticipate that RadNet will post 0.56 earnings per share for the current year.

Insider Activity

In other RadNet news, EVP Mark Stolper sold 35,000 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $73.89, for a total transaction of $2,586,150.00. Following the transaction, the executive vice president directly owned 68,012 shares of the company's stock, valued at approximately $5,025,406.68. The trade was a 33.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 1,500 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $66.98, for a total transaction of $100,470.00. Following the completion of the transaction, the chief executive officer owned 54,495 shares of the company's stock, valued at $3,650,075.10. This trade represents a 2.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,098 shares of company stock valued at $9,430,715. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On RadNet

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in RadNet by 1,086.5% in the third quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company's stock worth $33,000 after buying an additional 402 shares during the period. GAMMA Investing LLC lifted its stake in shares of RadNet by 11.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,596 shares of the medical research company's stock valued at $198,000 after purchasing an additional 269 shares during the period. Corient Private Wealth LLC lifted its stake in shares of RadNet by 13.0% in the 2nd quarter. Corient Private Wealth LLC now owns 5,233 shares of the medical research company's stock valued at $298,000 after purchasing an additional 604 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of RadNet by 1.5% during the second quarter. Thrivent Financial for Lutherans now owns 48,550 shares of the medical research company's stock valued at $2,763,000 after purchasing an additional 701 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in RadNet by 10.7% in the second quarter. Neuberger Berman Group LLC now owns 286,594 shares of the medical research company's stock worth $16,310,000 after purchasing an additional 27,615 shares during the period. 77.90% of the stock is owned by institutional investors.

RadNet Company Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.