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

RadNet, Inc. (NASDAQ:RDNT) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $84.00.

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised RadNet from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Zacks Research lowered RadNet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Barclays lifted their price target on RadNet from $79.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Morgan Stanley raised shares of RadNet to an “overweight” rating in a report on Monday, August 11th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $95.00 target price on shares of RadNet in a research note on Friday.

Insider Buying and Selling

In other RadNet news, COO Norman R. Hames sold 10,000 shares of the 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. This trade represents a 4.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Cornelis Wesdorp sold 500 shares of RadNet stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $72.13, for a total value of $36,065.00. Following the completion of the sale, the chief executive officer directly owned 53,495 shares of the company’s stock, valued at $3,858,594.35. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 51,000 shares of company stock worth $3,741,110 in the last quarter. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of RadNet during the first quarter worth approximately $28,000. Farther Finance Advisors LLC grew its holdings in RadNet by 1,086.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 439 shares of the medical research company’s stock worth $33,000 after acquiring an additional 402 shares during the period. Jones Financial Companies Lllp raised its position in shares of RadNet by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 171 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of RadNet in the 2nd quarter valued at $35,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of RadNet in the 3rd quarter valued at $37,000. Institutional investors own 77.90% of the company’s stock.

RadNet Trading Up 2.8%

Shares of RadNet stock opened at $79.16 on Wednesday. RadNet has a 12-month low of $45.00 and a 12-month high of $85.42. The stock has a market capitalization of $6.11 billion, a P/E ratio of -395.78 and a beta of 1.58. The company has a 50-day simple moving average of $76.82 and a 200 day simple moving average of $65.81. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.91.

RadNet (NASDAQ:RDNT) last released its quarterly earnings results on Sunday, November 9th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $522.87 million during the quarter, compared to analyst estimates of $494.19 million. RadNet had a negative net margin of 0.78% and a positive return on equity of 2.41%. RadNet’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. Research analysts expect that RadNet will post 0.56 earnings per share for the current fiscal 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.