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

Shares of RadNet, Inc. (NASDAQ:RDNT) have received an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $87.4286.

Several equities research analysts recently commented on RDNT shares. Barclays dropped their price objective on shares of RadNet from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Weiss Ratings lowered shares of RadNet from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $91.00 target price on shares of RadNet in a report on Tuesday, March 3rd.

RadNet Stock Performance

Shares of RadNet stock opened at $55.53 on Friday. RadNet has a 12 month low of $50.76 and a 12 month high of $85.84. The firm has a market capitalization of $4.37 billion, a P/E ratio of -308.48 and a beta of 1.43. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $56.63 and a two-hundred day simple moving average of $67.11.

RadNet (NASDAQ:RDNT) last released its earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). The business had revenue of $575.63 million during the quarter, compared to analysts’ expectations of $557.93 million. RadNet had a positive return on equity of 2.77% and a negative net margin of 0.66%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.50) earnings per share. On average, equities analysts forecast that RadNet will post 0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Alma Gregory Sorensen sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total value of $932,250.00. Following the transaction, the insider directly owned 1,208,923 shares of the company’s stock, valued at approximately $75,134,564.45. This represents a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by insiders.

Institutional Trading of RadNet

A number of institutional investors have recently made changes to their positions in RDNT. Geneos Wealth Management Inc. bought a new stake in shares of RadNet in the fourth quarter worth approximately $25,000. Allworth Financial LP lifted its position in RadNet by 346.6% during the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 305 shares during the period. Danske Bank A S bought a new position in RadNet during the third quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its holdings in RadNet by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock worth $34,000 after purchasing an additional 171 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in RadNet in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

RadNet Company Profile

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.