RadNet, Inc. (NASDAQ:RDNT) Receives Consensus Recommendation of "Buy" from Brokerages

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) has been assigned an average recommendation of "Buy" from the five analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $74.75.

A number of equities analysts have issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Sidoti raised shares of RadNet to a "strong-buy" rating in a research report on Friday, October 4th. Barclays raised shares of RadNet from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. Finally, Truist Financial upped their target price on RadNet from $70.00 to $80.00 and gave the company a "buy" rating in a report on Monday, September 23rd.

Insider Buying and Selling at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the sale, the executive vice president now owns 48,144 shares in the company, valued at $3,022,480.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.12% of the company's stock.

Institutional Investors Weigh In On RadNet

Several large investors have recently added to or reduced their stakes in RDNT. AQR Capital Management LLC raised its holdings in RadNet by 3.2% during the 2nd quarter. AQR Capital Management LLC now owns 5,131 shares of the medical research company's stock valued at $302,000 after acquiring an additional 160 shares during the period. SG Americas Securities LLC lifted its holdings in RadNet by 8.7% during the 1st quarter. SG Americas Securities LLC now owns 3,637 shares of the medical research company's stock worth $177,000 after purchasing an additional 291 shares in the last quarter. Hanseatic Management Services Inc. boosted its stake in RadNet by 1.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 19,968 shares of the medical research company's stock worth $1,177,000 after purchasing an additional 353 shares during the period. GAMMA Investing LLC grew its holdings in RadNet by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company's stock valued at $51,000 after buying an additional 370 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of RadNet by 6.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,087 shares of the medical research company's stock valued at $492,000 after buying an additional 399 shares during the period. Hedge funds and other institutional investors own 77.90% of the company's stock.

RadNet Stock Up 2.3 %

Shares of NASDAQ RDNT traded up $1.50 during mid-day trading on Friday, reaching $66.54. 377,405 shares of the company's stock traded hands, compared to its average volume of 543,168. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. The business has a 50-day simple moving average of $66.88 and a 200 day simple moving average of $61.03. The stock has a market cap of $4.92 billion, a P/E ratio of 475.29 and a beta of 1.74. RadNet has a 1-year low of $26.68 and a 1-year high of $72.18.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The company had revenue of $459.70 million for the quarter, compared to the consensus estimate of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. The business's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. On average, analysts expect that RadNet will post 0.59 EPS for the current fiscal year.

About RadNet

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.