FIX assumed coverage on shares of RadNet (NASDAQ:RDNT) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “strong-buy” rating and a $15.00 price target on the medical research company’s stock. FIX’s target price indicates a potential upside of 18.58% from the stock’s current price.
A number of other brokerages also recently issued reports on RDNT. BidaskClub raised RadNet from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Jefferies Group set a $14.00 price target on RadNet and gave the stock a “buy” rating in a research note on Thursday, March 8th. Finally, Zacks Investment Research downgraded RadNet from a “hold” rating to a “sell” rating in a research note on Saturday, February 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. RadNet has an average rating of “Buy” and an average price target of $13.33.
RadNet (RDNT) opened at $12.65 on Wednesday. The stock has a market capitalization of $590.54, a PE ratio of -1,265,000.00, a PEG ratio of 2.67 and a beta of 0.69. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.29 and a quick ratio of 1.29. RadNet has a 52 week low of $5.30 and a 52 week high of $13.06.
In related news, EVP Norman R. Hames sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $9.96, for a total transaction of $49,800.00. Following the transaction, the executive vice president now directly owns 365,087 shares of the company’s stock, valued at approximately $3,636,266.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John V. Crues sold 19,684 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $10.01, for a total value of $197,036.84. Following the transaction, the insider now directly owns 544,097 shares in the company, valued at $5,446,410.97. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of RDNT. JPMorgan Chase & Co. raised its stake in RadNet by 85.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 503,880 shares of the medical research company’s stock worth $5,795,000 after buying an additional 232,524 shares during the period. Renaissance Technologies LLC raised its stake in shares of RadNet by 18.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,404,444 shares of the medical research company’s stock worth $14,185,000 after purchasing an additional 223,740 shares during the last quarter. EAM Investors LLC purchased a new stake in shares of RadNet in the third quarter worth approximately $2,364,000. Royce & Associates LP raised its stake in shares of RadNet by 683.9% in the fourth quarter. Royce & Associates LP now owns 176,368 shares of the medical research company’s stock worth $1,781,000 after purchasing an additional 153,868 shares during the last quarter. Finally, Beck Mack & Oliver LLC raised its stake in shares of RadNet by 60.9% in the fourth quarter. Beck Mack & Oliver LLC now owns 352,916 shares of the medical research company’s stock worth $3,564,000 after purchasing an additional 133,515 shares during the last quarter. 56.53% of the stock is currently owned by institutional investors and hedge funds.
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RadNet Company Profile
RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.
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