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

Shares of RadNet, Inc. (NASDAQ:RDNT - Get Free Report) have earned an average rating of "Buy" from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $69.75.

Several research firms recently weighed in on RDNT. StockNews.com raised shares of RadNet to a "sell" rating in a research note on Wednesday, March 19th. Barclays reduced their price objective on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Jefferies Financial Group reduced their price objective on shares of 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 cut their price target on shares of RadNet from $88.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and cut their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th.

RadNet Trading Up 1.5 %

Shares of RDNT stock traded up $0.77 on Friday, reaching $51.03. 461,071 shares of the stock were exchanged, compared to its average volume of 664,102. The stock has a market cap of $3.78 billion, a PE ratio of -728.90 and a beta of 1.59. RadNet has a one year low of $45.00 and a one year high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a 50 day moving average price of $51.71 and a 200 day moving average price of $64.42.

RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 earnings per share 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 business had revenue of $477.10 million for the quarter, compared to the consensus estimate of $459.42 million. Equities research analysts forecast that RadNet will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling at RadNet

In other news, Director David L. Swartz sold 25,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the sale, the director now owns 174,067 shares of the company's stock, valued at $8,849,566.28. The trade was a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Cornelis Wesdorp sold 2,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total transaction of $105,160.00. Following the completion of the sale, the chief executive officer now directly owns 58,995 shares in the company, valued at approximately $3,101,957.10. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is currently owned by corporate insiders.

Institutional Trading of RadNet

Institutional investors have recently made changes to their positions in the business. USA Financial Formulas bought a new stake in shares of RadNet in the fourth quarter worth $30,000. Fifth Third Bancorp lifted its position in shares of RadNet by 84.3% in 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of RadNet by 22.3% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company's stock worth $82,000 after purchasing an additional 300 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of 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. Finally, Tower Research Capital LLC TRC lifted its position in shares of RadNet by 42.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company's stock worth $99,000 after purchasing an additional 422 shares in the last quarter. Institutional investors own 77.90% of the company's stock.

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.