RadNet, Inc. (NASDAQ:RDNT - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $72.53, but opened at $88.00. RadNet shares last traded at $90.86, with a volume of 775,812 shares traded.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Jefferies Financial Group increased their target price on shares of RadNet from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Truist Financial raised their target price on shares of RadNet from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Sidoti raised shares of RadNet to a "strong-buy" rating in a research note on Friday, October 4th. Finally, Barclays raised shares of RadNet from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $57.00 to $79.00 in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.75.
Read Our Latest Analysis on RadNet
RadNet Trading Up 19.1 %
The firm has a market cap of $6.39 billion, a P/E ratio of 617.00 and a beta of 1.75. The firm's fifty day moving average is $67.36 and its two-hundred day moving average is $62.00. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92.
RadNet (NASDAQ:RDNT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The medical research company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $459.70 million for the quarter, compared to analysts' expectations of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. The business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. Analysts predict that RadNet, Inc. will post 0.59 earnings per share for the current fiscal year.
Insider Buying and Selling at RadNet
In other RadNet news, EVP Michael N. Murdock sold 15,000 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the completion of the transaction, the executive vice president now owns 48,144 shares of the company's stock, valued at approximately $3,022,480.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.12% of the company's stock.
Hedge Funds Weigh In On RadNet
Several institutional investors and hedge funds have recently added to or reduced their stakes in RDNT. UniSuper Management Pty Ltd purchased a new position in shares of RadNet in the 1st quarter worth about $683,000. Janus Henderson Group PLC raised its position in shares of RadNet by 108.6% in the 1st quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company's stock worth $3,112,000 after purchasing an additional 33,335 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of RadNet by 103.4% in the 1st quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company's stock worth $12,160,000 after purchasing an additional 127,039 shares during the last quarter. Sei Investments Co. raised its position in shares of RadNet by 18.8% in the 1st quarter. Sei Investments Co. now owns 65,899 shares of the medical research company's stock worth $3,207,000 after purchasing an additional 10,430 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of RadNet in the 1st quarter worth about $1,049,000. Hedge funds and other institutional investors own 77.90% of the company's stock.
RadNet Company Profile
(
Get Free Report)
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.
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