RadNet, Inc. (NASDAQ:RDNT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of RadNet, Inc. (NASDAQ:RDNT) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $87.4286.

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

Insider Transactions at RadNet

In other RadNet news, insider Alma Gregory Sorensen sold 15,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $62.15, for a total value of $932,250.00. Following the completion of the transaction, the insider directly owned 1,208,923 shares in the company, valued at approximately $75,134,564.45. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Trading of RadNet

Several large investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in shares of RadNet during the fourth quarter valued at approximately $25,000. Allworth Financial LP increased its holdings in shares of RadNet by 346.6% in the 3rd quarter. Allworth Financial LP now owns 393 shares of the medical research company’s stock worth $30,000 after purchasing an additional 305 shares in the last quarter. Danske Bank A S purchased a new stake in shares of RadNet during the third quarter valued at $30,000. Jones Financial Companies Lllp boosted its position in shares of RadNet by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 446 shares of the medical research company’s stock valued at $34,000 after buying an additional 171 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in RadNet in the 4th quarter worth about $36,000. 77.90% of the stock is owned by institutional investors.

RadNet Price Performance

RDNT stock opened at $54.34 on Friday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -301.87 and a beta of 1.41. The firm’s 50-day moving average price is $55.82 and its two-hundred day moving average price is $66.30. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. RadNet has a 12-month low of $50.76 and a 12-month high of $85.84.

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

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.