Stock Traders Purchase Large Volume of Call Options on RadNet (NASDAQ:RDNT)

RadNet, Inc. (NASDAQ:RDNT - Get Free Report) was the recipient of unusually large options trading on Friday. Traders acquired 9,582 call options on the stock. This represents an increase of 1,374% compared to the typical volume of 650 call options.

Hedge Funds Weigh In On RadNet

Large investors have recently added to or reduced their stakes in the company. KBC Group NV increased its position 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 valued at $187,000 after purchasing an additional 864 shares during the period. Lisanti Capital Growth LLC acquired a new stake in RadNet during the third quarter worth $2,922,000. Franklin Resources Inc. increased its holdings in RadNet by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 387,061 shares of the medical research company's stock valued at $27,334,000 after buying an additional 41,381 shares during the period. Pathstone Holdings LLC increased its holdings in RadNet by 58.5% in the 3rd quarter. Pathstone Holdings LLC now owns 27,503 shares of the medical research company's stock valued at $1,908,000 after buying an additional 10,151 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of RadNet by 30.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,475,995 shares of the medical research company's stock valued at $103,532,000 after buying an additional 344,146 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays lowered their price target on RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a report on Wednesday, January 22nd. Truist Financial reiterated a "buy" rating and issued a $88.00 target price (down from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group cut their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $75.50.

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RadNet Stock Performance

Shares of RadNet stock traded up $0.98 during midday trading on Tuesday, hitting $51.83. The company had a trading volume of 1,171,761 shares, compared to its average volume of 869,538. RadNet has a 1-year low of $42.45 and a 1-year high of $93.65. The business's 50 day simple moving average is $64.99 and its two-hundred day simple moving average is $69.00. The stock has a market cap of $3.84 billion, a PE ratio of -740.32 and a beta of 1.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16.

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 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 firm had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. As a group, equities analysts predict that RadNet will post 0.56 EPS for the current fiscal year.

About RadNet

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.