RadNet (NASDAQ:RDNT) Upgraded at Wall Street Zen

RadNet (NASDAQ:RDNT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Several other research firms have also recently issued reports on RDNT. Raymond James Financial raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial reduced their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research report on Friday, April 11th. B. Riley assumed coverage on shares of RadNet in a research report on Friday, June 13th. They issued a "buy" rating and a $69.00 price target for the company. Finally, Barclays reduced their price target 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. One research analyst has rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $69.60.

RadNet Stock Performance

NASDAQ:RDNT opened at $55.23 on Friday. The company has a market cap of $4.14 billion, a price-to-earnings ratio of -128.44 and a beta of 1.43. The company has a fifty day simple moving average of $55.43 and a two-hundred day simple moving average of $59.69. RadNet has a 52 week low of $45.00 and a 52 week high of $93.65. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.87.

Insider Buying and Selling at RadNet

In other RadNet news, COO Norman R. Hames sold 2,911 shares of RadNet stock in a transaction on 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. The trade was a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet 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 completion of the transaction, the executive vice president now owns 1,160,509 shares in the company, valued at approximately $65,545,548.32. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,447 shares of company stock worth $3,613,220. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Inspire Investing LLC increased its stake in shares of RadNet by 20.0% during the first quarter. Inspire Investing LLC now owns 6,893 shares of the medical research company's stock worth $343,000 after acquiring an additional 1,149 shares during the period. Rhumbline Advisers increased its stake in shares of RadNet by 1.1% during the first quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company's stock worth $8,740,000 after acquiring an additional 1,895 shares during the period. Strs Ohio acquired a new position in shares of RadNet during the first quarter worth about $139,000. Intech Investment Management LLC increased its stake in shares of RadNet by 49.8% during the first quarter. Intech Investment Management LLC now owns 66,809 shares of the medical research company's stock worth $3,322,000 after acquiring an additional 22,198 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of RadNet by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company's stock worth $21,904,000 after acquiring an additional 8,762 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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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