RadNet (NASDAQ:RDNT) Downgraded to "Sell" Rating by Wall Street Zen

Wall Street Zen downgraded shares of RadNet (NASDAQ:RDNT - Free Report) from a hold rating to a sell rating in a research note released on Thursday.

Several other research analysts have also recently issued reports on RDNT. Barclays decreased their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Truist Financial decreased their target price on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and decreased their target price for the stock from $85.00 to $65.00 in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $69.75.

RadNet Stock Up 1.5%

NASDAQ RDNT traded up $0.86 during trading hours on Thursday, reaching $57.47. 125,289 shares of the company's stock traded hands, compared to its average volume of 684,954. RadNet has a 52-week low of $45.00 and a 52-week high of $93.65. The firm has a market cap of $4.31 billion, a PE ratio of -819.95 and a beta of 1.46. The firm has a 50-day simple moving average of $52.93 and a 200 day simple moving average of $62.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

RadNet (NASDAQ:RDNT - Get Free Report) last issued 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. The business had revenue of $477.10 million during the quarter, compared to analysts' expectations of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Sell-side analysts anticipate that RadNet will post 0.56 EPS for the current fiscal year.

Insider Transactions at RadNet

In related news, COO Norman R. Hames sold 2,911 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $174,660.00. Following the completion of the sale, the chief operating officer now directly owns 24,889 shares in the company, valued at approximately $1,493,340. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the sale, the chief executive officer now owns 55,995 shares of the company's stock, valued at $2,828,867.40. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,447 shares of company stock worth $2,433,550 over the last three months. 5.12% of the stock is currently owned by company insiders.

Institutional Trading of RadNet

Several large investors have recently added to or reduced their stakes in RDNT. Barclays PLC grew its position in RadNet by 373.8% during the third quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock valued at $8,118,000 after buying an additional 92,291 shares during the period. Nisa Investment Advisors LLC grew its position in RadNet by 20.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,291 shares of the medical research company's stock valued at $300,000 after buying an additional 716 shares during the period. Fifth Third Bancorp grew its position in RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock valued at $47,000 after buying an additional 305 shares during the period. KBC Group NV grew its position in RadNet by 47.6% during the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company's stock valued at $187,000 after buying an additional 864 shares during the period. Finally, Highland Capital Management LLC grew its position in RadNet by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock valued at $231,000 after buying an additional 202 shares during the period. 77.90% of the stock is currently 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.