RadNet (NASDAQ:RDNT) Upgraded at Barclays

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

Several other equities research analysts also recently weighed in on RDNT. StockNews.com downgraded RadNet from a hold rating to a sell rating in a report on Wednesday, May 15th. Jefferies Financial Group increased their target price on RadNet from $61.00 to $75.00 and gave the stock a buy rating in a research note on Thursday, July 11th. Raymond James boosted their target price on shares of RadNet from $50.00 to $60.00 and gave the company an outperform rating in a research note on Friday, May 10th. Finally, Truist Financial raised 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. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $71.00.

RadNet Stock Down 1.2 %

Shares of RDNT opened at $62.41 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.92. The business has a fifty day moving average of $61.67 and a 200 day moving average of $55.04. The company has a market cap of $4.61 billion, a PE ratio of 208.03 and a beta of 1.74. RadNet has a 52-week low of $25.11 and a 52-week high of $67.93.

RadNet (NASDAQ:RDNT) last released its 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 the consensus estimate of $438.53 million. RadNet had a return on equity of 4.30% and a net margin of 0.58%. RadNet’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. On average, sell-side analysts expect that RadNet will post 0.58 EPS for the current year.

Insider Transactions 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 completion of the sale, the executive vice president now directly owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Michael N. Murdock sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 48,144 shares of the company’s stock, valued at $3,022,480.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Norman R. Hames sold 18,597 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $63.08, for a total value of $1,173,098.76. Following the sale, the chief operating officer now directly owns 227,322 shares in the company, valued at approximately $14,339,471.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,830 shares of company stock valued at $3,334,107. 5.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RadNet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in shares of RadNet by 193.7% in the 4th quarter. Victory Capital Management Inc. now owns 256,039 shares of the medical research company’s stock valued at $8,902,000 after buying an additional 168,857 shares in the last quarter. Natixis Advisors L.P. boosted its stake in RadNet by 5.6% in the fourth quarter. Natixis Advisors L.P. now owns 11,789 shares of the medical research company’s stock valued at $409,000 after acquiring an additional 627 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in RadNet by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 606,207 shares of the medical research company’s stock worth $21,078,000 after purchasing an additional 11,891 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of RadNet by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,744,124 shares of the medical research company’s stock worth $60,646,000 after purchasing an additional 71,714 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of RadNet by 11.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,290,582 shares of the medical research company’s stock valued at $44,874,000 after purchasing an additional 133,221 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

About RadNet

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.