RadNet (NASDAQ:RDNT) Now Covered by B. Riley

B. Riley started coverage on shares of RadNet (NASDAQ:RDNT - Free Report) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $69.00 target price on the medical research company's stock.

Several other equities analysts have also weighed in on RDNT. Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Barclays reduced their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Truist Financial lowered their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen downgraded RadNet from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, RadNet currently has a consensus rating of "Buy" and an average price target of $69.60.

RadNet Stock Down 2.1%

Shares of RDNT traded down $1.17 during trading hours on Friday, reaching $55.41. 705,671 shares of the stock traded hands, compared to its average volume of 689,069. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $54.84 and a 200 day simple moving average of $60.75. RadNet has a 52 week low of $45.00 and a 52 week high of $93.65. The company has a market cap of $4.16 billion, a price-to-earnings ratio of -791.46 and a beta of 1.43.

Insider Transactions at RadNet

In other RadNet news, EVP Alma Gregory Sorensen sold 55,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the sale, the executive vice president now owns 1,160,509 shares of the company's stock, valued at $65,545,548.32. The trade was a 4.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Norman R. Hames sold 5,536 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.00, for a total value of $332,160.00. Following the completion of the transaction, the chief operating officer now directly owns 249,183 shares of the company's stock, valued at $14,950,980. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,447 shares of company stock worth $4,113,270 over the last quarter. Corporate insiders own 5.60% of the company's stock.

Institutional Trading of RadNet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in RadNet by 507.9% in the 1st quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company's stock worth $63,290,000 after purchasing an additional 1,063,516 shares during the period. Norges Bank bought a new position in shares of RadNet in the fourth quarter valued at approximately $56,381,000. T. Rowe Price Investment Management Inc. boosted its position in shares of RadNet by 81.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company's stock valued at $82,417,000 after acquiring an additional 743,922 shares during the period. Alyeska Investment Group L.P. grew its stake in RadNet by 141.7% during the first quarter. Alyeska Investment Group L.P. now owns 1,214,882 shares of the medical research company's stock valued at $60,404,000 after acquiring an additional 712,270 shares in the last quarter. Finally, Nuveen LLC bought a new stake in RadNet during the 1st quarter worth approximately $27,422,000. 77.90% of the stock is currently owned by institutional investors.

About RadNet

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.