RadNet (NASDAQ:RDNT) Raised to Strong-Buy at B. Riley

B. Riley upgraded shares of RadNet (NASDAQ:RDNT - Free Report) to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Barclays reduced their target price 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 raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $85.00 to $65.00 in a report on Wednesday, March 5th. Wall Street Zen lowered shares of RadNet from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Truist Financial cut their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $69.60.

RadNet Stock Down 2.1%

Shares of RDNT stock traded down $1.17 on Thursday, reaching $55.41. 705,671 shares of the stock were exchanged, compared to its average volume of 689,070. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. The business's 50 day moving average price is $54.84 and its 200 day moving average price is $60.75. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of -791.46 and a beta of 1.43. RadNet has a twelve month low of $45.00 and a twelve month high of $93.65.

Insider Activity at RadNet

In other news, EVP Alma Gregory Sorensen sold 55,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $56.48, for a total value of $3,106,400.00. Following the transaction, the executive vice president now directly owns 1,160,509 shares in the company, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total transaction of $251,100.00. Following the completion of the transaction, the chief operating officer now owns 251,959 shares in the company, valued at approximately $12,653,380.98. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,447 shares of company stock valued at $4,113,270. Corporate insiders own 5.60% of the company's stock.

Institutional Trading of RadNet

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its position in RadNet by 1.1% in the 1st quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company's stock valued at $8,740,000 after purchasing an additional 1,895 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of RadNet by 154.8% during the 4th quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company's stock worth $23,665,000 after buying an additional 205,846 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of RadNet by 377.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company's stock worth $96,000 after buying an additional 1,063 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of RadNet by 3.5% during the 4th quarter. Janus Henderson Group PLC now owns 31,436 shares of the medical research company's stock worth $2,195,000 after buying an additional 1,049 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of RadNet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock worth $518,577,000 after buying an additional 71,910 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

About RadNet

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.