RadNet, Inc. (NASDAQ:RDNT) Given Consensus Recommendation of “Buy” by Brokerages

Shares of RadNet, Inc. (NASDAQ:RDNT) have been given an average recommendation of “Buy” by the five analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $73.25.

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of RadNet to a “sell” rating in a research note on Wednesday, March 19th. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial reiterated a “buy” rating and issued a $88.00 price objective (down previously from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Barclays cut their target price on RadNet from $74.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Jefferies Financial Group decreased their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Insiders Place Their Bets

In related news, CEO Cornelis Wesdorp sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $52.58, for a total transaction of $105,160.00. Following the sale, the chief executive officer now directly owns 58,995 shares in the company, valued at $3,101,957.10. This trade represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the sale, the chief operating officer now owns 261,959 shares in the company, valued at approximately $13,042,938.61. This trade represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,000 shares of company stock worth $1,926,730. Corporate insiders own 5.12% of the company’s stock.

Institutional Investors Weigh In On RadNet

Several large investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of RadNet during the 4th quarter worth about $56,381,000. Raymond James Financial Inc. bought a new position in RadNet during the fourth quarter worth about $33,090,000. T. Rowe Price Investment Management Inc. increased its position in RadNet by 79.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 913,691 shares of the medical research company’s stock worth $63,813,000 after buying an additional 404,241 shares during the last quarter. Portolan Capital Management LLC raised its stake in RadNet by 384.8% in the third quarter. Portolan Capital Management LLC now owns 491,358 shares of the medical research company’s stock valued at $34,095,000 after buying an additional 390,011 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of RadNet by 7,219.2% in the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company’s stock valued at $27,189,000 after buying an additional 383,989 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

RadNet Trading Up 0.6 %

RDNT stock opened at $49.72 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet has a twelve month low of $45.82 and a twelve month high of $93.65. The company has a market cap of $3.68 billion, a P/E ratio of -710.18 and a beta of 1.85. The business has a fifty day moving average of $57.35 and a 200-day moving average of $67.01.

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

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.