RadNet (NASDAQ:RDNT - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.
Other analysts also recently issued research reports about the stock. B. Riley initiated coverage on shares of RadNet in a research note on Friday, June 13th. They issued a "buy" rating and a $69.00 price objective for the company. Wall Street Zen raised shares of RadNet from a "sell" rating to a "hold" rating in a research note on Saturday. Morgan Stanley raised shares of RadNet to an "overweight" rating in a research note on Monday, August 11th. Truist Financial set a $74.00 price objective on shares of RadNet in a research note on Thursday, July 10th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $75.00 price objective (up previously from $66.00) on shares of RadNet in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, RadNet presently has a consensus rating of "Buy" and an average price target of $71.60.
Check Out Our Latest Report on RadNet
RadNet Trading Down 0.3%
Shares of RDNT stock opened at $67.7250 on Monday. RadNet has a 52-week low of $45.00 and a 52-week high of $93.65. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $5.21 billion, a PE ratio of -338.61 and a beta of 1.43. The stock has a fifty day simple moving average of $57.69 and a two-hundred day simple moving average of $55.88.
RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings data on Sunday, August 10th. The medical research company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.14. The firm had revenue of $498.23 million during the quarter, compared to analyst estimates of $488.06 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share. On average, analysts predict that RadNet will post 0.56 EPS for the current fiscal year.
Insider Buying and Selling at RadNet
In other news, EVP David Jeffrey Katz sold 17,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $68.31, for a total transaction of $1,161,270.00. Following the sale, the executive vice president directly owned 86,774 shares of the company's stock, valued at $5,927,531.94. The trade was a 16.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alma Gregory Sorensen sold 55,000 shares of the business's 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 sale, the executive vice president directly owned 1,160,509 shares in the company, valued at $65,545,548.32. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDNT. American Century Companies Inc. lifted its position in RadNet by 507.9% during the first quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company's stock valued at $63,290,000 after purchasing an additional 1,063,516 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in RadNet by 81.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company's stock valued at $82,417,000 after purchasing an additional 743,922 shares during the period. Alyeska Investment Group L.P. lifted its position in RadNet by 141.7% during the first quarter. Alyeska Investment Group L.P. now owns 1,214,882 shares of the medical research company's stock valued at $60,404,000 after purchasing an additional 712,270 shares during the period. Ameriprise Financial Inc. raised its position in shares of RadNet by 79.7% in the second quarter. Ameriprise Financial Inc. now owns 1,394,552 shares of the medical research company's stock worth $79,364,000 after acquiring an additional 618,392 shares during the period. Finally, Nuveen LLC acquired a new position in shares of RadNet in the first quarter worth about $27,422,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.
About RadNet
(
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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