RadNet, Inc. (NASDAQ:RDNT) Given Consensus Rating of "Buy" by Analysts

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) have been assigned a consensus recommendation of "Buy" from the five research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $76.75.

RDNT has been the topic of a number of recent analyst reports. Raymond James upgraded RadNet from an "outperform" rating to a "strong-buy" rating and reduced their target price for the stock from $85.00 to $65.00 in a research note on Wednesday. Jefferies Financial Group cut their price target on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th. Truist Financial restated a "buy" rating and set a $88.00 price target (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Finally, Barclays dropped their price objective on RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 22nd.

Insiders Place Their Bets

In other RadNet news, CEO Cornelis Wesdorp sold 1,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the sale, the chief executive officer now owns 55,995 shares of the company's stock, valued at approximately $2,828,867.40. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.12% of the company's stock.

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Institutional Investors Weigh In On RadNet

Institutional investors and hedge funds have recently modified their holdings of the company. Covestor Ltd lifted its holdings in shares of RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock worth $30,000 after purchasing an additional 435 shares during the period. USA Financial Formulas acquired a new stake in shares of RadNet during the fourth quarter worth about $30,000. Fifth Third Bancorp lifted its holdings in shares of RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company's stock worth $47,000 after purchasing an additional 305 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of RadNet during the third quarter worth about $90,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of RadNet by 377.0% during 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 during the period. Institutional investors and hedge funds own 77.90% of the company's stock.

RadNet Trading Down 2.5 %

NASDAQ:RDNT traded down $1.27 during midday trading on Friday, hitting $50.31. 1,115,940 shares of the company traded hands, compared to its average volume of 881,878. The firm's fifty day moving average is $63.31 and its 200-day moving average is $68.63. RadNet has a 12-month low of $42.45 and a 12-month high of $93.65. The firm has a market capitalization of $3.73 billion, a P/E ratio of -718.61 and a beta of 1.85. 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 (NASDAQ:RDNT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The company had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. On average, sell-side analysts predict 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.