Barclays Lowers RadNet (NASDAQ:RDNT) Price Target to $60.00

RadNet (NASDAQ:RDNT - Get Free Report) had its target price reduced by analysts at Barclays from $74.00 to $60.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the medical research company's stock. Barclays's price objective would suggest a potential upside of 20.20% from the company's previous close.

Several other research analysts have also weighed in on RDNT. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. Jefferies Financial Group lowered their target price on RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Truist Financial restated a "buy" rating and set a $88.00 price target (down from $94.00) on shares of RadNet in a report on Wednesday, January 22nd. Finally, StockNews.com upgraded shares of RadNet to a "sell" rating in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $73.25.

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RadNet Trading Down 1.5 %

RDNT stock traded down $0.76 during trading on Monday, hitting $49.92. The company had a trading volume of 157,671 shares, compared to its average volume of 614,101. The stock has a market cap of $3.70 billion, a PE ratio of -711.68 and a beta of 1.85. The business has a 50-day moving average of $57.76 and a 200-day moving average of $67.13. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet has a one year low of $45.82 and a one year high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. Research analysts predict that RadNet will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RadNet news, Director David L. Swartz sold 25,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total transaction of $1,271,000.00. Following the transaction, the director now owns 174,067 shares in the company, valued at approximately $8,849,566.28. This represents a 12.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last quarter, 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 hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in RadNet by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,425,218 shares of the medical research company's stock valued at $518,577,000 after purchasing an additional 71,910 shares during the last quarter. State Street Corp boosted its position in shares of RadNet by 1.3% during the third quarter. State Street Corp now owns 2,446,179 shares of the medical research company's stock valued at $169,740,000 after buying an additional 30,244 shares during the last quarter. RTW Investments LP grew its holdings in RadNet by 9.4% during the fourth quarter. RTW Investments LP now owns 1,978,582 shares of the medical research company's stock worth $138,184,000 after buying an additional 169,978 shares in the last quarter. Invesco Ltd. raised its position in RadNet by 4.3% in the 4th quarter. Invesco Ltd. now owns 1,731,074 shares of the medical research company's stock valued at $120,898,000 after buying an additional 70,673 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in RadNet by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,555,214 shares of the medical research company's stock valued at $107,936,000 after acquiring an additional 11,613 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

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.