RadNet's (RDNT) "Sell (D)" Rating Reiterated at Weiss Ratings

Key Points

• RadNet's stock has been reaffirmed with a "sell (D)" rating by Weiss Ratings, despite some analysts providing more optimistic outlooks, including a "buy" rating from Truist Financial.
• The company's recent earnings report showed a profit of $0.31 per share, exceeding estimates, with revenue reaching $498.23 million and a year-over-year increase of 8.4%.
• Insider trading activity indicates significant selling, with executives offloading a combined total of 135,098 shares in the last ninety days, raising concerns about insider confidence in the stock.

RadNet (NASDAQ:RDNT - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently commented on the company. Morgan Stanley upgraded RadNet to an "overweight" rating in a research report on Monday, August 11th. Zacks Research raised RadNet from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Truist Financial raised their price objective on RadNet from $74.00 to $81.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Wall Street Zen upgraded RadNet from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, B. Riley assumed coverage on RadNet in a research note on Friday, June 13th. They set a "buy" rating and a $69.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, RadNet currently has a consensus rating of "Moderate Buy" and an average target price of $76.80.

RadNet Trading Down 2.3%

Shares of RadNet stock opened at $76.08 on Wednesday. The stock has a market capitalization of $5.85 billion, a PE ratio of -380.38 and a beta of 1.59. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.00 and a current ratio of 2.00. RadNet has a 52 week low of $45.00 and a 52 week high of $93.65. The stock has a 50 day moving average price of $70.03 and a two-hundred day moving average price of $60.16.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.14. The firm had revenue of $498.23 million for 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 revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. As a group, equities analysts anticipate that RadNet will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at RadNet

In other RadNet news, EVP Mark Stolper sold 35,000 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $73.89, for a total transaction of $2,586,150.00. Following the completion of the sale, the executive vice president owned 68,012 shares in the company, valued at $5,025,406.68. This represents a 33.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Norman R. Hames sold 10,000 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $72.74, for a total value of $727,400.00. Following the transaction, the chief operating officer directly owned 239,183 shares in the company, valued at approximately $17,398,171.42. The trade was a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,098 shares of company stock worth $9,430,715. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RDNT. Zions Bancorporation National Association UT raised its position in shares of RadNet by 0.6% during the 2nd quarter. Zions Bancorporation National Association UT now owns 35,081 shares of the medical research company's stock valued at $1,996,000 after buying an additional 204 shares during the period. Amalgamated Bank grew its stake in shares of RadNet by 1.2% in the second quarter. Amalgamated Bank now owns 18,820 shares of the medical research company's stock worth $1,071,000 after acquiring an additional 224 shares in the last quarter. Moran Wealth Management LLC grew its stake in shares of RadNet by 2.2% in the first quarter. Moran Wealth Management LLC now owns 10,643 shares of the medical research company's stock worth $529,000 after acquiring an additional 225 shares in the last quarter. Xponance Inc. grew its stake in shares of RadNet by 5.0% during the first quarter. Xponance Inc. now owns 5,010 shares of the medical research company's stock worth $249,000 after purchasing an additional 239 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of RadNet by 11.6% during the third quarter. GAMMA Investing LLC now owns 2,596 shares of the medical research company's stock worth $198,000 after purchasing an additional 269 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.