Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) traded up 4.3% during trading on Friday . The company traded as high as $57.42 and last traded at $57.57. 313,189 shares were traded during mid-day trading, a decline of 54% from the average session volume of 685,520 shares. The stock had previously closed at $55.19.
Analyst Ratings Changes
Several research firms have issued reports on RDNT. Truist Financial dropped their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Barclays dropped their price target on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Wall Street Zen lowered shares of RadNet from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and dropped their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. One research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $69.75.
Check Out Our Latest Analysis on RDNT
RadNet Price Performance
The company has a market capitalization of $4.34 billion, a P/E ratio of -825.31 and a beta of 1.46. The company's 50-day moving average price is $53.40 and its two-hundred day moving average price is $61.89. 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 quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, sell-side analysts expect that RadNet, Inc. will post 0.56 EPS for the current year.
Insider Activity
In related news, COO Norman R. Hames sold 2,911 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.00, for a total value of $174,660.00. Following the transaction, the chief operating officer now directly owns 24,889 shares in the company, valued at approximately $1,493,340. This represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Cornelis Wesdorp sold 1,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the completion of the transaction, the chief executive officer now owns 55,995 shares in the company, 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 have sold 101,447 shares of company stock valued at $5,539,950 over the last ninety days. 5.12% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On RadNet
Institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV grew its stake in shares of RadNet by 47.6% in the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company's stock valued at $187,000 after acquiring an additional 864 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of RadNet by 30.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock valued at $103,532,000 after acquiring an additional 344,146 shares in the last quarter. WCM Investment Management LLC acquired a new position in shares of RadNet in the fourth quarter valued at about $14,110,000. Guidance Capital Inc. acquired a new position in shares of RadNet in the fourth quarter valued at about $467,000. Finally, JPMorgan Chase & Co. grew its stake in shares of RadNet by 154.8% in the fourth quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company's stock valued at $23,665,000 after acquiring an additional 205,846 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.
RadNet Company Profile
(
Get Free Report)
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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