RadNet (NASDAQ:RDNT) Upgraded by StockNews.com to Sell Rating

StockNews.com upgraded shares of RadNet (NASDAQ:RDNT - Free Report) to a sell rating in a research report released on Wednesday morning.

Several other research firms have also recently commented on RDNT. Truist Financial reissued a "buy" rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Jefferies Financial Group lowered 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. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, Barclays lowered their price objective on shares of RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $76.75.

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RadNet Price Performance

RadNet stock traded down $0.46 during trading hours on Wednesday, hitting $49.25. 1,319,962 shares of the company traded hands, compared to its average volume of 619,992. The firm has a market cap of $3.65 billion, a P/E ratio of -703.47 and a beta of 1.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The firm's 50-day simple moving average is $58.78 and its two-hundred day simple moving average is $67.46. RadNet has a 1-year low of $45.82 and a 1-year high of $93.65.

RadNet (NASDAQ:RDNT - Get Free Report) last released its earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million for the quarter, compared to analysts' expectations of $459.42 million. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. As a group, analysts forecast that RadNet will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Cornelis Wesdorp sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 trade represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Norman R. Hames sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $49.79, for a total transaction of $248,950.00. Following the sale, the chief operating officer now owns 261,959 shares of the company's stock, valued at approximately $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. Insiders sold a total of 38,000 shares of company stock worth $1,926,730 over the last ninety days. 5.12% of the stock is currently owned by company insiders.

Institutional Trading of RadNet

Institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in shares of RadNet by 12.0% during the third quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company's stock worth $27,334,000 after purchasing an additional 41,381 shares during the period. KBC Group NV boosted its holdings in shares of RadNet by 47.6% during the fourth quarter. KBC Group NV now owns 2,678 shares of the medical research company's stock worth $187,000 after purchasing an additional 864 shares during the period. Pathstone Holdings LLC boosted its holdings in shares of RadNet by 58.5% during the third quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company's stock worth $1,908,000 after purchasing an additional 10,151 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of RadNet by 30.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock worth $103,532,000 after purchasing an additional 344,146 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of RadNet by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 132,997 shares of the medical research company's stock worth $9,229,000 after purchasing an additional 1,838 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.