RadNet (NASDAQ:RDNT) Lifted to Strong-Buy at Sidoti

Sidoti upgraded shares of RadNet (NASDAQ:RDNT) to a strong-buy rating in a report published on Friday morning, Zacks.com reports.

Several other brokerages have also recently commented on RDNT. Jefferies Financial Group boosted their price target on shares of RadNet from $75.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, September 19th. Truist Financial boosted their price target on shares of RadNet from $70.00 to $80.00 and gave the stock a buy rating in a research report on Monday, September 23rd. Finally, Barclays raised shares of RadNet from an equal weight rating to an overweight rating and boosted their price target for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $74.75.

RadNet Stock Performance

RDNT stock opened at $66.96 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 2.12. The company has a 50 day moving average price of $64.46 and a 200 day moving average price of $58.64. RadNet has a fifty-two week low of $25.11 and a fifty-two week high of $71.92. The stock has a market capitalization of $4.95 billion, a PE ratio of 223.20 and a beta of 1.74.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings results on Wednesday, August 7th. The medical research company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $459.70 million during the quarter, compared to analyst estimates of $438.53 million. RadNet had a net margin of 0.58% and a return on equity of 4.30%. RadNet’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS. Analysts forecast that RadNet will post 0.6 EPS for the current year.

Insider Activity at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of the company’s 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 transaction, the executive vice president now owns 48,144 shares in the company, valued at approximately $3,022,480.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky lifted its stake in RadNet by 3.8% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 61,447 shares of the medical research company’s stock valued at $2,136,000 after purchasing an additional 2,272 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in RadNet by 3.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 771,662 shares of the medical research company’s stock valued at $26,831,000 after purchasing an additional 27,311 shares during the last quarter. Wellington Management Group LLP lifted its stake in RadNet by 16.9% in the 4th quarter. Wellington Management Group LLP now owns 727,172 shares of the medical research company’s stock valued at $25,284,000 after purchasing an additional 105,164 shares during the last quarter. Vanguard Group Inc. lifted its stake in RadNet by 0.8% in 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 purchasing an additional 32,483 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in RadNet in the 1st quarter valued at approximately $218,000. Institutional investors and hedge funds 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.