RadNet (NASDAQ:RDNT) Lifted to Overweight at Barclays

Barclays upgraded shares of RadNet (NASDAQ:RDNT) from an equal weight rating to an overweight rating in a report issued on Friday, Marketbeat Ratings reports. The firm currently has $79.00 target price on the medical research company’s stock, up from their previous target price of $57.00.

Other analysts have also recently issued research reports about the stock. Truist Financial increased their price target on shares of RadNet from $63.00 to $70.00 and gave the stock a buy rating in a research note on Monday, July 15th. Raymond James raised their target price on shares of RadNet from $50.00 to $60.00 and gave the stock an outperform rating in a research note on Friday, May 10th. StockNews.com cut shares of RadNet from a hold rating to a sell rating in a research note on Wednesday, May 15th. Finally, Jefferies Financial Group raised their target price on shares of RadNet from $61.00 to $75.00 and gave the stock a buy rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $71.00.

RadNet Stock Down 1.2 %

Shares of NASDAQ:RDNT opened at $62.41 on Friday. The stock has a market cap of $4.61 billion, a P/E ratio of 209.80 and a beta of 1.75. The firm has a fifty day moving average price of $61.60 and a 200 day moving average price of $54.75. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. RadNet has a 1-year low of $25.11 and a 1-year high of $67.93.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $459.70 million for the quarter, compared to analyst estimates of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Sell-side analysts predict that RadNet will post 0.58 EPS for the current year.

Insider Transactions at RadNet

In other news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the sale, the executive vice president now owns 48,144 shares in the company, valued at approximately $3,022,480.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $62.78, for a total value of $941,700.00. Following the completion of the transaction, the executive vice president now owns 48,144 shares in the company, valued at approximately $3,022,480.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine Nayoma Gordon sold 1,500 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $61.03, for a total transaction of $91,545.00. Following the completion of the transaction, the director now owns 10,879 shares of the company’s stock, valued at approximately $663,945.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,330 shares of company stock worth $5,874,652. Company insiders own 5.12% of the company’s stock.

Hedge Funds Weigh In On RadNet

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in RadNet by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock valued at $147,937,000 after acquiring an additional 32,483 shares in the last quarter. RTW Investments LP purchased a new position in RadNet during the 4th quarter valued at about $23,073,000. UniSuper Management Pty Ltd purchased a new position in RadNet during the 1st quarter valued at about $683,000. Janus Henderson Group PLC increased its holdings in RadNet by 108.6% during the 1st quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock valued at $3,112,000 after acquiring an additional 33,335 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in RadNet by 103.4% during the 1st quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock valued at $12,160,000 after acquiring an additional 127,039 shares in the last quarter. Hedge funds and other 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.