RadNet, Inc. (NASDAQ:RDNT) Receives $73.25 Average PT from Analysts

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) have been assigned an average rating of "Buy" from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $73.25.

Several research analysts have issued reports on RDNT shares. Barclays reduced their price objective on RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Jefferies Financial Group decreased their price target on RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Truist Financial restated a "buy" rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of RadNet to a "sell" rating in a research report on Wednesday, March 19th. Finally, Raymond James upgraded shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their price objective for the company from $85.00 to $65.00 in a report on Wednesday, March 5th.

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Insiders Place Their Bets

In other news, CEO Cornelis Wesdorp sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the sale, the chief executive officer now owns 58,995 shares of the company's stock, valued at $3,101,957.10. This trade represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $49.79, for a total value of $248,950.00. Following the completion of the transaction, the chief operating officer now owns 261,959 shares of the company's stock, valued at $13,042,938.61. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its stake in shares of RadNet by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company's stock valued at $545,000 after purchasing an additional 136 shares during the period. Highland Capital Management LLC raised its position in RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company's stock valued at $231,000 after buying an additional 202 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in RadNet by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,917 shares of the medical research company's stock valued at $483,000 after acquiring an additional 219 shares in the last quarter. Summit Financial LLC boosted its position in RadNet by 2.4% during the 4th quarter. Summit Financial LLC now owns 11,111 shares of the medical research company's stock worth $776,000 after acquiring an additional 262 shares during the last quarter. Finally, Virtue Capital Management LLC grew its stake in shares of RadNet by 1.4% during the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company's stock worth $1,345,000 after acquiring an additional 264 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

RadNet Price Performance

RadNet stock traded down $0.81 on Tuesday, reaching $48.70. The company's stock had a trading volume of 1,157,538 shares, compared to its average volume of 639,734. The business's fifty day moving average price is $56.32 and its 200 day moving average price is $66.55. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -695.61 and a beta of 1.85. RadNet has a twelve month low of $45.82 and a twelve month high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. Equities 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.