RadNet Sees Unusually High Options Volume (NASDAQ:RDNT)

RadNet, Inc. (NASDAQ:RDNT) was the target of some unusual options trading activity on Friday. Stock traders bought 9,582 call options on the stock. This represents an increase of 1,374% compared to the typical daily volume of 650 call options.

RadNet Price Performance

RDNT traded down $3.69 during midday trading on Friday, hitting $53.91. The stock had a trading volume of 1,235,766 shares, compared to its average volume of 793,823. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet has a 1 year low of $37.04 and a 1 year high of $93.65. The business has a fifty day moving average of $65.77 and a 200 day moving average of $69.04. The company has a market cap of $3.99 billion, a P/E ratio of -776.62 and a beta of 1.79.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The business had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. As a group, equities analysts forecast that RadNet will post 0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. USA Financial Formulas bought a new position in shares of RadNet in the fourth quarter worth about $30,000. Covestor Ltd boosted its holdings in shares of RadNet by 10,875.0% in the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after purchasing an additional 435 shares during the period. Fifth Third Bancorp boosted its holdings in shares of RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after purchasing an additional 305 shares during the period. Highline Wealth Partners LLC purchased a new position in RadNet during the 3rd quarter valued at $68,000. Finally, Peterson Financial Group Inc. purchased a new position in RadNet during the 3rd quarter valued at $90,000. Institutional investors own 77.90% of the company’s stock.

Analysts Set New Price Targets

RDNT has been the topic of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Barclays lowered their price target on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

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.