StockNews.com Upgrades RadNet (NASDAQ:RDNT) to "Sell"

StockNews.com upgraded shares of RadNet (NASDAQ:RDNT - Free Report) to a sell rating in a research report report published on Monday morning.

RDNT has been the topic of several other reports. Truist Financial dropped their price target on RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Barclays lowered their price objective on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Jefferies Financial Group lowered their price objective on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. Finally, Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the company 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 issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, RadNet has a consensus rating of "Buy" and an average target price of $69.75.

RadNet Stock Performance

RDNT traded up $0.88 on Monday, hitting $61.14. The company had a trading volume of 671,420 shares, compared to its average volume of 682,915. The company's fifty day moving average price is $51.71 and its 200 day moving average price is $63.16. RadNet has a 1-year low of $45.00 and a 1-year high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of -873.30 and a beta of 1.46.

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

Insider Buying and Selling at RadNet

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the sale, the chief executive officer now directly owns 55,995 shares in the company, valued at $2,828,867.40. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David L. Swartz sold 25,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the sale, the director now owns 174,067 shares in the company, valued at $8,849,566.28. This trade represents a 12.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,447 shares of company stock worth $2,433,550 over the last three months. Company insiders own 5.12% of the company's stock.

Institutional Trading of RadNet

A number of large investors have recently bought and sold shares of RDNT. Barclays PLC boosted its stake in RadNet by 373.8% in the third quarter. Barclays PLC now owns 116,978 shares of the medical research company's stock worth $8,118,000 after purchasing an additional 92,291 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in RadNet by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company's stock worth $9,229,000 after purchasing an additional 1,838 shares in the last quarter. USA Financial Formulas acquired a new position in RadNet in the fourth quarter worth $30,000. Connective Portfolio Management LLC acquired a new position in RadNet in the fourth quarter worth $2,177,000. Finally, Nisa Investment Advisors LLC boosted its stake in RadNet by 20.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,291 shares of the medical research company's stock worth $300,000 after purchasing an additional 716 shares in the last quarter. 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.