RadNet, Inc. (NASDAQ:RDNT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of RadNet, Inc. (NASDAQ:RDNT) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $90.3333.

RDNT has been the topic of several research reports. B. Riley increased their target price on 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. Zacks Research downgraded RadNet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. UBS Group set a $92.00 target price on RadNet in a report on Friday, January 9th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of RadNet in a research report on Thursday, December 18th.

Insider Activity at RadNet

In other news, CAO Mital Patel sold 25,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $76.06, for a total value of $1,901,500.00. Following the transaction, the chief accounting officer owned 205,138 shares of the company’s stock, valued at approximately $15,602,796.28. This trade represents a 10.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $3,902,254. Company insiders own 5.60% of the company’s stock.

Institutional Trading of RadNet

Several large investors have recently added to or reduced their stakes in the stock. Oak Ridge Investments LLC lifted its stake in shares of RadNet by 1.6% during the fourth quarter. Oak Ridge Investments LLC now owns 34,354 shares of the medical research company’s stock worth $2,451,000 after purchasing an additional 535 shares in the last quarter. Assetmark Inc. raised its holdings in shares of RadNet by 17.0% during the 4th quarter. Assetmark Inc. now owns 2,951 shares of the medical research company’s stock valued at $211,000 after buying an additional 429 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of RadNet by 2.1% during the 4th quarter. State of Alaska Department of Revenue now owns 39,662 shares of the medical research company’s stock valued at $2,829,000 after buying an additional 826 shares during the period. Steigerwald Gordon & Koch Inc. lifted its position in RadNet by 16.6% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 9,295 shares of the medical research company’s stock worth $663,000 after acquiring an additional 1,320 shares in the last quarter. Finally, Ellsworth Advisors LLC purchased a new position in RadNet in the 4th quarter worth approximately $741,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Price Performance

RDNT opened at $73.17 on Monday. RadNet has a 1 year low of $45.00 and a 1 year high of $85.84. The company’s 50 day simple moving average is $75.89 and its 200 day simple moving average is $72.14. The stock has a market capitalization of $5.65 billion, a PE ratio of -430.39 and a beta of 1.51. 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 (NASDAQ:RDNT) last issued its quarterly earnings results on Monday, November 10th. The medical research company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). The company had revenue of $522.87 million for the quarter, compared to analyst estimates of $494.19 million. RadNet had a positive return on equity of 2.52% and a negative net margin of 0.65%.The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. As a group, sell-side analysts expect that RadNet will post 0.56 EPS for the current year.

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.