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

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) have received a consensus rating of "Buy" from the eight research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $76.80.

A number of analysts recently commented on RDNT shares. Barclays boosted their price objective on shares of RadNet from $60.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded RadNet from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Morgan Stanley raised RadNet to an "overweight" rating in a research note on Monday, August 11th. Truist Financial lifted their price objective on RadNet from $74.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Finally, B. Riley initiated coverage on RadNet in a report on Friday, June 13th. They issued a "buy" rating and a $69.00 target price on the stock.

RadNet Stock Down 1.0%

RDNT opened at $75.64 on Tuesday. The business has a 50 day simple moving average of $65.35 and a 200-day simple moving average of $57.95. RadNet has a 12 month low of $45.00 and a 12 month high of $93.65. The stock has a market capitalization of $5.82 billion, a P/E ratio of -378.18 and a beta of 1.54. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.00 and a quick ratio of 2.00.

RadNet (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings data on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. The firm 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 revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. On average, equities analysts anticipate that RadNet will post 0.56 earnings per share for the current fiscal year.

Insider Transactions at RadNet

In other news, COO Norman R. Hames sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $72.74, for a total value of $727,400.00. Following the sale, the chief operating officer directly owned 239,183 shares in the company, valued at $17,398,171.42. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Stolper sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The stock was 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. This trade represents a 33.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,098 shares of company stock worth $9,430,715 in the last 90 days. Insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On RadNet

Several hedge funds have recently bought and sold shares of RDNT. Thrivent Financial for Lutherans lifted its position in shares of RadNet by 1.5% in 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 acquiring an additional 701 shares in the last quarter. Neuberger Berman Group LLC raised its stake in RadNet by 10.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 286,594 shares of the medical research company's stock valued at $16,310,000 after purchasing an additional 27,615 shares during the last quarter. State of Wyoming purchased a new position in RadNet in the 2nd quarter valued at about $58,000. Castleark Management LLC boosted its stake in shares of RadNet by 241.7% during the 2nd quarter. Castleark Management LLC now owns 96,203 shares of the medical research company's stock worth $5,475,000 after purchasing an additional 68,050 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of RadNet by 8.9% during the second quarter. Public Sector Pension Investment Board now owns 225,081 shares of the medical research company's stock worth $12,809,000 after buying an additional 18,448 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

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.

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