RadNet (NASDAQ:RDNT) Upgraded at StockNews.com

StockNews.com upgraded shares of RadNet (NASDAQ:RDNT) to a sell rating in a report published on Wednesday.

Other equities analysts have also issued research reports about the company. Barclays reduced their price objective on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Jefferies Financial Group reduced their price objective on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Truist Financial reissued a “buy” rating and issued a $88.00 price objective (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Finally, Raymond James raised RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $85.00 to $65.00 in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $76.75.

RadNet Price Performance

Shares of RDNT stock opened at $49.25 on Wednesday. The stock’s fifty day simple moving average is $58.78 and its 200 day simple moving average is $67.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -703.47 and a beta of 1.85. RadNet has a one year low of $45.82 and a one year high of $93.65.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $477.10 million for the quarter, compared to analyst estimates of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. On average, analysts expect that RadNet will post 0.56 earnings per share for the current fiscal year.

Insider Activity at RadNet

In related news, CEO Cornelis Wesdorp sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $52.58, for a total value of $105,160.00. Following the completion of the sale, the chief executive officer now owns 58,995 shares in the company, valued at approximately $3,101,957.10. This represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David L. Swartz sold 25,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the sale, the director now owns 174,067 shares of the company’s stock, valued at $8,849,566.28. This represents a 12.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,000 shares of company stock worth $1,926,730. 5.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDNT. USA Financial Formulas acquired a new position in RadNet in the fourth quarter valued at about $30,000. Fifth Third Bancorp boosted its position in shares of RadNet by 84.3% during the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after buying an additional 305 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of RadNet by 377.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock worth $96,000 after buying an additional 1,063 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of RadNet by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock worth $99,000 after buying an additional 422 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of RadNet during the fourth quarter worth about $105,000. 77.90% of the stock is owned by institutional investors and hedge funds.

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.