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

RadNet (NASDAQ:RDNT) was upgraded by equities researchers at Sidoti to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group upped 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 upped their target price on 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 RadNet from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $57.00 to $79.00 in a 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 given a strong buy rating to the stock. According to MarketBeat.com, RadNet presently has an average rating of “Moderate Buy” and a consensus target price of $74.75.

RadNet Stock Performance

RadNet stock opened at $66.96 on Friday. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 223.20 and a beta of 1.74. RadNet has a 12 month low of $25.11 and a 12 month high of $71.92. 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 stock’s 50-day moving average is $64.46 and its 200-day moving average is $58.64.

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

Insider Activity

In related news, EVP Michael N. Murdock sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.12% of the company’s stock.

Institutional Trading of RadNet

A number of hedge funds and other institutional investors have recently made changes to their positions in RDNT. Vanguard Group Inc. grew its holdings in RadNet by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,254,717 shares of the medical research company’s stock worth $147,937,000 after acquiring an additional 32,483 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in RadNet in the first quarter valued at about $683,000. Janus Henderson Group PLC increased its holdings in RadNet by 108.6% in the first quarter. Janus Henderson Group PLC now owns 64,029 shares of the medical research company’s stock valued at $3,112,000 after buying an additional 33,335 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in RadNet by 103.4% during the 1st quarter. Russell Investments Group Ltd. now owns 249,898 shares of the medical research company’s stock worth $12,160,000 after buying an additional 127,039 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in RadNet by 18.8% during the 1st quarter. Sei Investments Co. now owns 65,899 shares of the medical research company’s stock worth $3,207,000 after buying an additional 10,430 shares during the last quarter. Institutional investors 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.