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

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

Other research analysts have also issued reports about the company. Jefferies Financial Group upped their price target on RadNet from $75.00 to $80.00 and gave the stock a buy rating in a report on Thursday, September 19th. Truist Financial upped 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 upgraded shares of RadNet from an equal weight rating to an overweight rating and increased their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. One 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’s stock. According to data from MarketBeat, RadNet presently has an average rating of Moderate Buy and a consensus price target of $74.75.

RadNet Stock Down 2.5 %

Shares of RadNet stock opened at $66.96 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.92. RadNet has a twelve month low of $25.11 and a twelve month high of $71.92. The business’s 50 day simple moving average is $64.46 and its 200-day simple moving average is $58.64. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 223.20 and a beta of 1.74.

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

Insider Transactions at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 in the company, valued at $3,022,480.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in RadNet by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company’s stock valued at $223,862,000 after buying an additional 345,822 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of RadNet by 11.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,442,887 shares of the medical research company’s stock worth $70,211,000 after purchasing an additional 152,305 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in shares of RadNet by 5.1% in the 2nd quarter. Hood River Capital Management LLC now owns 1,125,712 shares of the medical research company’s stock worth $66,327,000 after purchasing an additional 54,583 shares in the last quarter. Global Alpha Capital Management Ltd. grew its position in RadNet by 16.2% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,019,934 shares of the medical research company’s stock valued at $49,630,000 after purchasing an additional 141,830 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in RadNet by 103.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,011,974 shares of the medical research company’s stock worth $59,626,000 after buying an additional 515,342 shares during the last quarter. Institutional investors and hedge funds 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.