RadNet, Inc. (NASDAQ:RDNT) Given Average Rating of "Buy" by Analysts

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) has been given a consensus recommendation of "Buy" by the five ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $69.75.

RDNT has been the topic of several research reports. Truist Financial lowered their target price on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Barclays lowered their price objective on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. StockNews.com raised RadNet to a "sell" rating in a report on Wednesday, March 19th. Finally, Jefferies Financial Group lowered their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th.

Insiders Place Their Bets

In related news, Director David L. Swartz sold 25,000 shares of RadNet stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the transaction, the director now owns 174,067 shares of the company's stock, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cornelis Wesdorp sold 1,000 shares of RadNet stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at approximately $2,828,867.40. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock worth $1,926,730 in the last quarter. 5.12% of the stock is owned by corporate insiders.

Institutional Trading of RadNet

Several large investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of RadNet during the 4th quarter worth approximately $56,381,000. Raymond James Financial Inc. purchased a new position in shares of RadNet in the fourth quarter worth about $33,090,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of RadNet by 79.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock worth $63,813,000 after purchasing an additional 404,241 shares during the last quarter. Tidal Investments LLC raised its stake in shares of RadNet by 7,219.2% during the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock valued at $27,189,000 after acquiring an additional 383,989 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of RadNet by 30.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock worth $103,532,000 after buying an additional 344,146 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Stock Up 0.5 %

Shares of RadNet stock traded up $0.24 during trading on Friday, reaching $52.62. The stock had a trading volume of 125,504 shares, compared to its average volume of 663,668. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet has a 52 week low of $45.00 and a 52 week high of $93.65. The stock has a fifty day moving average price of $51.09 and a two-hundred day moving average price of $64.13. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -752.88 and a beta of 1.59.

RadNet (NASDAQ:RDNT - Get Free Report) last released its earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. Sell-side analysts predict that RadNet will post 0.56 EPS for the current fiscal year.

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.