RadNet (NASDAQ:RDNT) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of RadNet (NASDAQ:RDNT) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Several other equities analysts have also recently weighed in on the company. Truist Financial reduced their price target on RadNet from $88.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, April 11th. B. Riley assumed coverage on RadNet in a research report on Friday, June 13th. They issued a “buy” rating and a $69.00 price target for the company. Barclays reduced their price target on RadNet from $74.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Finally, Raymond James Financial upgraded RadNet from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $69.60.

RadNet Stock Performance

Shares of RDNT opened at $55.23 on Friday. The firm has a market cap of $4.14 billion, a PE ratio of -128.44 and a beta of 1.43. RadNet has a 1 year low of $45.00 and a 1 year high of $93.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.01 and a quick ratio of 2.01. The stock’s fifty day moving average price is $55.43 and its two-hundred day moving average price is $59.55.

Insider Transactions at RadNet

In other news, EVP Alma Gregory Sorensen sold 55,000 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $56.48, for a total value of $3,106,400.00. Following the completion of the transaction, the executive vice president now directly owns 1,160,509 shares in the company, valued at approximately $65,545,548.32. This represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Norman R. Hames sold 2,911 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.00, for a total value of $174,660.00. Following the completion of the sale, the chief operating officer now directly owns 24,889 shares of the company’s stock, valued at approximately $1,493,340. This trade represents a 10.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 63,447 shares of company stock worth $3,613,220. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RadNet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of RadNet in the 1st quarter valued at about $28,000. Smartleaf Asset Management LLC lifted its stake in shares of RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after acquiring an additional 1,063 shares during the last quarter. Tower Research Capital LLC TRC raised its position in RadNet by 42.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock valued at $99,000 after purchasing an additional 422 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in RadNet during the 4th quarter valued at approximately $105,000. Finally, Twin Tree Management LP bought a new position in RadNet during the 4th quarter valued at approximately $106,000. Institutional investors own 77.90% of the company’s stock.

RadNet Company Profile

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.