RadNet, Inc. (NASDAQ:RDNT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of RadNet, Inc. (NASDAQ:RDNT) have been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $87.4286.

A number of research firms have recently issued reports on RDNT. Jefferies Financial Group reissued a “buy” rating and set a $91.00 price target on shares of RadNet in a research report on Tuesday, March 3rd. Barclays decreased their price objective on RadNet from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Finally, Weiss Ratings cut RadNet from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th.

RadNet Stock Performance

NASDAQ RDNT opened at $52.81 on Friday. The company has a market cap of $4.15 billion, a P/E ratio of -293.37 and a beta of 1.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50 day moving average price is $55.95 and its 200-day moving average price is $66.38. RadNet has a fifty-two week low of $50.76 and a fifty-two week high of $85.84.

RadNet (NASDAQ:RDNT) last released its earnings results on Monday, May 11th. The medical research company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.14). RadNet had a negative net margin of 0.66% and a positive return on equity of 2.77%. The company had revenue of $575.63 million for the quarter, compared to the consensus estimate of $557.93 million. During the same period in the prior year, the firm posted ($0.50) EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts predict that RadNet will post 0.54 earnings per share for the current year.

Insider Buying and Selling at RadNet

In related news, insider Alma Gregory Sorensen sold 15,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $62.15, for a total transaction of $932,250.00. Following the completion of the sale, the insider directly owned 1,208,923 shares in the company, valued at $75,134,564.45. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On RadNet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in RadNet by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,483,869 shares of the medical research company’s stock valued at $570,346,000 after buying an additional 95,015 shares during the last quarter. RTW Investments LP raised its stake in shares of RadNet by 39.9% in the fourth quarter. RTW Investments LP now owns 3,938,500 shares of the medical research company’s stock worth $281,012,000 after purchasing an additional 1,122,956 shares during the last quarter. Beck Mack & Oliver LLC raised its stake in shares of RadNet by 0.4% in the third quarter. Beck Mack & Oliver LLC now owns 3,276,774 shares of the medical research company’s stock worth $249,723,000 after purchasing an additional 13,633 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of RadNet by 30.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,699,082 shares of the medical research company’s stock worth $192,581,000 after purchasing an additional 627,936 shares during the last quarter. Finally, State Street Corp raised its stake in shares of RadNet by 1.6% in the fourth quarter. State Street Corp now owns 2,579,073 shares of the medical research company’s stock worth $184,017,000 after purchasing an additional 41,356 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

About RadNet

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.