RadNet (NASDAQ:RDNT) Upgraded at KeyCorp

KeyCorp upgraded shares of RadNet (NASDAQ:RDNT) to a strong-buy rating in a research report report published on Friday morning,Zacks.com reports.

A number of other research analysts also recently commented on RDNT. UBS Group set a $92.00 price objective on shares of RadNet in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a research note on Monday, December 29th. B. Riley increased their price target on shares of RadNet from $71.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Truist Financial set a $90.00 price target on RadNet in a research note on Wednesday, December 17th. Finally, The Goldman Sachs Group upgraded RadNet to a “buy” rating in a research note on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.86.

RadNet Trading Down 0.2%

NASDAQ:RDNT opened at $78.20 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.87 and a current ratio of 1.87. RadNet has a one year low of $45.00 and a one year high of $85.84. The business’s 50-day simple moving average is $76.83 and its 200 day simple moving average is $70.99. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of -459.97 and a beta of 1.51.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Monday, November 10th. The medical research company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The business had revenue of $522.87 million for the quarter, compared to analyst estimates of $494.19 million. During the same quarter last year, the business earned $0.18 EPS. RadNet’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that RadNet will post 0.56 earnings per share for the current fiscal year.

Insider Activity at RadNet

In other news, CAO Mital Patel sold 25,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $76.06, for a total transaction of $1,901,500.00. Following the sale, the chief accounting officer directly owned 205,138 shares in the company, valued at approximately $15,602,796.28. This represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 50,000 shares of company stock worth $3,902,254 over the last three months. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RadNet

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of RadNet by 5.4% in the first quarter. AQR Capital Management LLC now owns 6,846 shares of the medical research company’s stock valued at $340,000 after acquiring an additional 350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of RadNet by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the medical research company’s stock worth $1,956,000 after buying an additional 1,699 shares during the period. Jones Financial Companies Lllp lifted its stake in RadNet by 563.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,705 shares of the medical research company’s stock worth $85,000 after acquiring an additional 1,448 shares in the last quarter. United Services Automobile Association purchased a new position in RadNet during the 1st quarter valued at about $216,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in RadNet by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,543 shares of the medical research company’s stock valued at $21,904,000 after purchasing an additional 8,762 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

About RadNet

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.