RadNet (NASDAQ:RDNT) Stock Rating Upgraded by KeyCorp

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

RDNT has been the subject of several other research reports. B. Riley upped their price target on shares of RadNet from $71.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Zacks Research cut RadNet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Truist Financial set a $90.00 price target on RadNet in a report on Wednesday, December 17th. Barclays increased their price objective on RadNet from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of RadNet in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.86.

RadNet Price Performance

NASDAQ RDNT opened at $78.20 on Friday. The stock’s 50-day moving average price is $76.83 and its two-hundred day moving average price is $70.78. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.82. The company has a market cap of $6.03 billion, a PE ratio of -459.97 and a beta of 1.51. RadNet has a 1 year low of $45.00 and a 1 year high of $85.84.

RadNet (NASDAQ:RDNT) last posted its quarterly earnings data on Monday, November 10th. The medical research company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). RadNet had a negative net margin of 0.65% and a positive return on equity of 2.52%. The firm had revenue of $522.87 million for the quarter, compared to analysts’ expectations of $494.19 million. During the same period in the prior year, the company posted $0.18 earnings per share. RadNet’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts predict that RadNet will post 0.56 EPS for the current year.

Insider Transactions at RadNet

In related news, CAO Mital Patel sold 15,080 shares of RadNet stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $80.05, for a total transaction of $1,207,154.00. Following the completion of the sale, the chief accounting officer owned 180,138 shares of the company’s stock, valued at approximately $14,420,046.90. This trade represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 50,000 shares of company stock worth $3,902,254 over the last ninety days. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RadNet

A number of hedge funds and other institutional investors have recently made changes to their positions in RDNT. SG Americas Securities LLC lifted its holdings in shares of RadNet by 13.1% during the 4th quarter. SG Americas Securities LLC now owns 30,276 shares of the medical research company’s stock valued at $2,160,000 after buying an additional 3,510 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in RadNet during the fourth quarter valued at approximately $756,000. Fulton Bank N.A. lifted its stake in RadNet by 28.6% in the fourth quarter. Fulton Bank N.A. now owns 9,350 shares of the medical research company’s stock valued at $667,000 after acquiring an additional 2,081 shares during the last quarter. Allworth Financial LP lifted its stake in RadNet by 346.6% in the third quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 305 shares during the last quarter. Finally, Swiss Life Asset Management Ltd bought a new stake in RadNet in the third quarter worth approximately $226,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

RadNet Company Profile

RadNet, Inc is a leading independent provider of outpatient diagnostic imaging services in the United States. Through a nationwide network of fixed-site imaging centers and affiliated joint-venture locations, the company delivers a comprehensive suite of radiology services including MRI, CT, PET/CT, ultrasound, X-ray, mammography, bone densitometry, nuclear medicine and interventional radiology procedures. RadNet also offers teleradiology and imaging management solutions to physician practices, hospitals and healthcare systems.

Founded in 1981 and headquartered in Los Angeles, RadNet has expanded its footprint organically and through strategic acquisitions.