RadNet (NASDAQ:RDNT) Upgraded at StockNews.com

RadNet (NASDAQ:RDNT - Get Free Report) was upgraded by equities researchers at StockNews.com to a "sell" rating in a report released on Monday.

A number of other equities research analysts have also weighed in on RDNT. Raymond James raised 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 report on Wednesday, March 5th. Truist Financial lowered their price target on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a report on Friday, April 11th. Barclays decreased their price objective 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. Finally, Jefferies Financial Group dropped their price objective 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. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $69.75.

RadNet Stock Up 2.3%

RDNT stock traded up $1.29 on Monday, hitting $57.03. 1,145,409 shares of the company's stock were exchanged, compared to its average volume of 673,754. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a 50 day moving average price of $50.85 and a two-hundred day moving average price of $63.30. The stock has a market cap of $4.28 billion, a P/E ratio of -814.60 and a beta of 1.46. RadNet has a 12-month low of $45.00 and a 12-month high of $93.65.

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

Insider Buying and Selling

In related news, CEO Cornelis Wesdorp sold 1,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was 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 directly owns 55,995 shares in the company, valued at $2,828,867.40. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David L. Swartz sold 25,000 shares of the business's stock in a transaction dated 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 directly owns 174,067 shares of the company's stock, valued at approximately $8,849,566.28. This trade represents a 12.56% 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 90 days. Insiders own 5.12% of the company's stock.

Hedge Funds Weigh In On RadNet

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in RadNet in the 4th quarter worth $56,381,000. Nuveen LLC bought a new stake in RadNet in the first quarter worth about $27,422,000. Raymond James Financial Inc. bought a new stake in shares of RadNet during the fourth quarter valued at approximately $33,090,000. T. Rowe Price Investment Management Inc. raised its stake in shares of RadNet by 79.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company's stock valued at $63,813,000 after acquiring an additional 404,241 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in RadNet by 7,219.2% in the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock worth $27,189,000 after buying an additional 383,989 shares in the last quarter. 77.90% of the stock is 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.

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