RadNet Target of Unusually Large Options Trading (NASDAQ:RDNT)

RadNet, Inc. (NASDAQ:RDNT) was the target of unusually large options trading on Friday. Traders purchased 9,582 call options on the company. This represents an increase of 1,374% compared to the average daily volume of 650 call options.

Wall Street Analyst Weigh In

RDNT has been the topic of several research reports. Jefferies Financial Group cut their target price 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 report on Wednesday, January 22nd. Finally, Barclays decreased their target price on shares of RadNet from $85.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, RadNet currently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

Institutional Investors Weigh In On RadNet

Several hedge funds have recently bought and sold shares of the company. USA Financial Formulas bought a new stake in RadNet in the fourth quarter valued at approximately $30,000. Covestor Ltd increased its holdings in shares of RadNet by 10,875.0% during the 3rd quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Fifth Third Bancorp raised its stake in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 305 shares during the period. Highline Wealth Partners LLC acquired a new stake in RadNet during the 3rd quarter valued at $68,000. Finally, Peterson Financial Group Inc. bought a new position in RadNet during the third quarter worth $90,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

RadNet Trading Down 3.7 %

Shares of RadNet stock opened at $55.47 on Friday. RadNet has a 12-month low of $37.04 and a 12-month high of $93.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $65.77 and its 200-day moving average is $69.04. The stock has a market cap of $4.11 billion, a P/E ratio of -792.32 and a beta of 1.79.

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 analysts’ consensus estimates of $0.21 by $0.01. RadNet had a negative net margin of 0.25% and a positive return on equity of 4.29%. The firm had revenue of $477.10 million during the quarter, compared to analysts’ expectations of $459.42 million. Equities research analysts predict that RadNet will post 0.56 earnings per share for the current fiscal year.

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.