RadNet (NASDAQ:RDNT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RadNet (NASDAQ:RDNTFree Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts have also issued reports on RDNT. B. Riley assumed coverage on RadNet in a research note on Friday, June 13th. They set a “buy” rating and a $69.00 price target for the company. Raymond James Financial raised shares of RadNet from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Truist Financial lowered their target price on shares of RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Barclays lowered their target price on shares of RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. One research analyst has rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $69.60.

View Our Latest Report on RadNet

RadNet Stock Down 0.7%

Shares of NASDAQ:RDNT opened at $54.87 on Friday. RadNet has a 1 year low of $45.00 and a 1 year high of $93.65. The business has a 50 day simple moving average of $55.46 and a two-hundred day simple moving average of $59.22. The firm has a market capitalization of $4.12 billion, a PE ratio of -127.60 and a beta of 1.43. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01.

Insider Buying and Selling at RadNet

In other news, EVP Alma Gregory Sorensen sold 55,000 shares of the business’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 completion of the sale, the executive vice president now owns 1,160,509 shares in the company, valued at approximately $65,545,548.32. The trade was a 4.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Norman R. Hames sold 5,536 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.00, for a total transaction of $332,160.00. Following the completion of the sale, the chief operating officer now owns 249,183 shares of the company’s stock, valued at approximately $14,950,980. This represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,447 shares of company stock valued at $3,613,220 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On RadNet

Large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its stake in RadNet by 1.1% in the first quarter. Rhumbline Advisers now owns 175,776 shares of the medical research company’s stock worth $8,740,000 after buying an additional 1,895 shares in the last quarter. SG Americas Securities LLC raised its position in shares of RadNet by 239.5% in the 1st quarter. SG Americas Securities LLC now owns 13,337 shares of the medical research company’s stock worth $663,000 after acquiring an additional 9,409 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of RadNet by 154.8% in the 4th quarter. JPMorgan Chase & Co. now owns 338,843 shares of the medical research company’s stock worth $23,665,000 after acquiring an additional 205,846 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of RadNet by 3.5% in the 4th quarter. Janus Henderson Group PLC now owns 31,436 shares of the medical research company’s stock worth $2,195,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in RadNet by 377.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after purchasing an additional 1,063 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

RadNet Company Profile

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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.

Further Reading

Analyst Recommendations for RadNet (NASDAQ:RDNT)

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