RadNet (NASDAQ:RDNT) Upgraded by Wall Street Zen to "Hold" Rating

Wall Street Zen upgraded shares of RadNet (NASDAQ:RDNT - Free Report) from a sell rating to a hold rating in a report released on Saturday morning.

Several other analysts also recently weighed in on the company. B. Riley initiated coverage on RadNet in a research report on Friday, June 13th. They set a "buy" rating and a $69.00 target price for the company. 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 report on Monday, March 24th. Raymond James Financial raised shares of 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. Finally, Truist Financial reduced their target price 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. One analyst has rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, RadNet has a consensus rating of "Buy" and an average target price of $69.60.

RadNet Trading Up 1.7%

Shares of RadNet stock traded up $0.91 during trading on Friday, hitting $55.78. The stock had a trading volume of 604,374 shares, compared to its average volume of 684,396. RadNet has a 12 month low of $45.00 and a 12 month high of $93.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01. The firm's fifty day simple moving average is $55.46 and its 200-day simple moving average is $59.22. The stock has a market cap of $4.19 billion, a PE ratio of -129.72 and a beta of 1.43.

Insider Buying and Selling

In related news, COO Norman R. Hames sold 2,911 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $174,660.00. Following the sale, the chief operating officer now owns 24,889 shares of the company's stock, valued at $1,493,340. This trade represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was 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 of the company's stock, valued at $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. Insiders sold a total of 63,447 shares of company stock valued at $3,613,220 over the last three months. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RDNT. Headlands Technologies LLC purchased a new position in RadNet in the first quarter worth $28,000. GAMMA Investing LLC grew its stake in RadNet by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after buying an additional 300 shares during the last quarter. Jones Financial Companies Lllp increased its position in RadNet by 563.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company's stock valued at $85,000 after buying an additional 1,448 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock valued at $96,000 after buying an additional 1,063 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in RadNet by 42.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock valued at $99,000 after buying an additional 422 shares during the last quarter. Institutional investors own 77.90% of the company's stock.

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.